Trust Investment Advisors Sells 5,400 Shares of CenturyLink, Inc. (CTL)
Trust Investment Advisors lowered its stake in shares of CenturyLink, Inc. (NYSE:CTL) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,870 shares of the technology company’s stock after selling 5,400 shares during the quarter. Trust Investment Advisors’ holdings in CenturyLink were worth $546,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in CenturyLink by 22.6% in the 2nd quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock valued at $1,369,547,000 after purchasing an additional 10,583,246 shares during the period. Dimensional Fund Advisors LP grew its stake in CenturyLink by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,689,431 shares of the technology company’s stock valued at $231,404,000 after purchasing an additional 301,671 shares during the period. Northern Trust Corp grew its stake in CenturyLink by 1.4% in the 2nd quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock valued at $166,639,000 after purchasing an additional 95,821 shares during the period. Capital World Investors bought a new position in CenturyLink in the 2nd quarter valued at $142,086,000. Finally, Epoch Investment Partners Inc. grew its stake in CenturyLink by 5.2% in the 2nd quarter. Epoch Investment Partners Inc. now owns 4,974,938 shares of the technology company’s stock valued at $118,801,000 after purchasing an additional 244,347 shares during the period. Hedge funds and other institutional investors own 81.74% of the company’s stock.
Shares of CenturyLink, Inc. (CTL) traded down $0.85 on Tuesday, reaching $14.48. The company had a trading volume of 9,299,249 shares, compared to its average volume of 10,324,079. The stock has a market cap of $15,650.00, a PE ratio of 7.98, a price-to-earnings-growth ratio of -4.14 and a beta of 0.88. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. CenturyLink, Inc. has a twelve month low of $14.60 and a twelve month high of $27.61.
CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The company had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.06 billion. CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period last year, the company posted $0.56 EPS. research analysts predict that CenturyLink, Inc. will post 1.87 earnings per share for the current year.
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A number of brokerages have issued reports on CTL. BidaskClub downgraded CenturyLink from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. J P Morgan Chase & Co restated a “buy” rating and issued a $26.00 price objective on shares of CenturyLink in a research note on Thursday, November 9th. Jefferies Group LLC reduced their price objective on CenturyLink to $17.00 and set a “hold” rating for the company in a research note on Thursday, November 9th. UBS AG reduced their price objective on CenturyLink from $29.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Finally, Oppenheimer Holdings, Inc. reduced their price objective on CenturyLink from $28.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $23.07.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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