LS Investment Advisors LLC lowered its holdings in Centurylink Inc (NYSE:CTL) by 6.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,783 shares of the technology company’s stock after selling 3,973 shares during the quarter. LS Investment Advisors LLC’s holdings in Centurylink were worth $741,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of CTL. Norges Bank acquired a new position in Centurylink during the 4th quarter worth $120,981,000. Oregon Public Employees Retirement Fund lifted its holdings in Centurylink by 2,975.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,281,402 shares of the technology company’s stock worth $415,000 after buying an additional 6,077,131 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Centurylink by 12.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,763,545 shares of the technology company’s stock worth $223,688,000 after buying an additional 1,587,647 shares during the last quarter. Millennium Management LLC lifted its holdings in Centurylink by 29.8% during the 4th quarter. Millennium Management LLC now owns 5,762,976 shares of the technology company’s stock worth $87,309,000 after buying an additional 1,323,554 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Centurylink by 48.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,482,962 shares of the technology company’s stock worth $41,761,000 after buying an additional 1,138,049 shares during the last quarter. Institutional investors own 75.52% of the company’s stock.
In other Centurylink news, CFO Indraneel Dev purchased 50,000 shares of Centurylink stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $11.75 per share, with a total value of $587,500.00. Following the purchase, the chief financial officer now directly owns 459,153 shares in the company, valued at approximately $5,395,047.75. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven T. Clontz purchased 8,000 shares of Centurylink stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $11.95 per share, for a total transaction of $95,600.00. Following the purchase, the director now owns 202,334 shares in the company, valued at $2,417,891.30. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 190,000 shares of company stock worth $2,212,330. 0.50% of the stock is owned by insiders.
A number of analysts have issued reports on CTL shares. Zacks Investment Research raised Centurylink from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Wednesday, March 13th. TheStreet downgraded Centurylink from a “c” rating to a “d+” rating in a report on Wednesday, February 13th. UBS Group downgraded Centurylink from a “buy” rating to a “neutral” rating and reduced their target price for the company from $24.00 to $14.00 in a report on Thursday, February 14th. JPMorgan Chase & Co. downgraded Centurylink from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $27.00 to $14.00 in a report on Thursday, February 14th. Finally, Moffett Nathanson raised Centurylink from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $16.00 to $12.00 in a research note on Tuesday, February 19th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.65.
Shares of CTL traded down $0.27 on Wednesday, reaching $9.96. The stock had a trading volume of 11,651,797 shares, compared to its average volume of 15,247,884. The stock has a market cap of $11.15 billion, a P/E ratio of 8.37, a P/E/G ratio of 0.65 and a beta of 0.74. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.71 and a quick ratio of 0.69. Centurylink Inc has a twelve month low of $9.91 and a twelve month high of $24.20.
Centurylink (NYSE:CTL) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. The firm had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Centurylink had a positive return on equity of 6.89% and a negative net margin of 34.62%. Centurylink’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. Research analysts expect that Centurylink Inc will post 1.29 EPS for the current fiscal year.
WARNING: This piece was reported by Sundance Herald and is the sole property of of Sundance Herald. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://sundanceherald.com/2019/05/22/ls-investment-advisors-llc-sells-3973-shares-of-centurylink-inc-ctl.html.
Centurylink Company Profile
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
Featured Story: What is diluted earnings per share (Diluted EPS)?
Receive News & Ratings for Centurylink Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centurylink and related companies with MarketBeat.com's FREE daily email newsletter.