CenturyLink, Inc. (CTL) Position Increased by Shell Asset Management Co.
Shell Asset Management Co. increased its position in shares of CenturyLink, Inc. (NYSE:CTL) by 114.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 228,954 shares of the technology company’s stock after buying an additional 122,210 shares during the period. Shell Asset Management Co.’s holdings in CenturyLink were worth $9,362,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tredje AP fonden boosted its holdings in shares of CenturyLink by 47.1% during the 2nd quarter. Tredje AP fonden now owns 99,244 shares of the technology company’s stock worth $2,370,000 after buying an additional 31,767 shares during the period. Swiss National Bank boosted its holdings in shares of CenturyLink by 0.5% during the 2nd quarter. Swiss National Bank now owns 1,902,241 shares of the technology company’s stock worth $45,426,000 after buying an additional 9,400 shares during the period. Synovus Financial Corp boosted its holdings in shares of CenturyLink by 20.3% during the 2nd quarter. Synovus Financial Corp now owns 218,719 shares of the technology company’s stock worth $5,242,000 after buying an additional 36,937 shares during the period. Front Street Capital Management Inc. boosted its holdings in shares of CenturyLink by 94.2% during the 2nd quarter. Front Street Capital Management Inc. now owns 95,448 shares of the technology company’s stock worth $2,279,000 after buying an additional 46,305 shares during the period. Finally, Fiduciary Management Inc. WI bought a new stake in shares of CenturyLink during the 2nd quarter worth $86,411,000. 82.95% of the stock is owned by institutional investors and hedge funds.
Shares of CenturyLink, Inc. (NYSE:CTL) traded up 2.97% during trading on Friday, hitting $19.04. 15,848,796 shares of the stock were exchanged. CenturyLink, Inc. has a 1-year low of $18.17 and a 1-year high of $33.45. The company has a market cap of $10.46 billion, a P/E ratio of 27.59 and a beta of 0.89. The firm’s 50-day moving average is $19.26 and its 200 day moving average is $22.72.
CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. Equities analysts forecast that CenturyLink, Inc. will post $1.94 earnings per share for the current fiscal year.
Several analysts recently issued reports on the stock. Barclays PLC decreased their price objective on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Thursday, June 29th. Cowen and Company upped their price objective on shares of CenturyLink from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Wednesday, July 5th. BidaskClub raised shares of CenturyLink from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of CenturyLink from a “sell” rating to a “hold” rating in a report on Friday, October 13th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $22.00 price target on shares of CenturyLink in a report on Tuesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.94.
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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