TD Asset Management Inc. Raises Position in Centurylink Inc (CTL)

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TD Asset Management Inc. boosted its holdings in shares of Centurylink Inc (NYSE:CTL) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,627,656 shares of the technology company’s stock after buying an additional 27,385 shares during the quarter. TD Asset Management Inc. owned approximately 0.15% of Centurylink worth $24,659,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Signet Investment Advisory Group Inc. purchased a new position in Centurylink during the fourth quarter valued at approximately $34,000. Benjamin F. Edwards & Company Inc. increased its holdings in Centurylink by 34.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,513 shares of the technology company’s stock valued at $53,000 after buying an additional 904 shares during the period. Intercontinental Wealth Advisors LLC purchased a new position in Centurylink during the fourth quarter valued at approximately $61,000. NuWave Investment Management LLC increased its holdings in Centurylink by 180.2% during the fourth quarter. NuWave Investment Management LLC now owns 4,208 shares of the technology company’s stock valued at $64,000 after buying an additional 2,706 shares during the period. Finally, IMS Capital Management purchased a new position in Centurylink during the third quarter valued at approximately $68,000. 75.01% of the stock is currently owned by institutional investors.

In other news, major shareholder Holdings (Private) Ltd Temasek sold 16,000,000 shares of Centurylink stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $15.90, for a total transaction of $254,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Trezise sold 53,164 shares of Centurylink stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $18.88, for a total transaction of $1,003,736.32. Following the sale, the executive vice president now owns 187,867 shares of the company’s stock, valued at $3,546,928.96. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

NYSE CTL opened at $14.21 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.78 and a current ratio of 0.78. Centurylink Inc has a 12-month low of $13.88 and a 12-month high of $24.20. The firm has a market capitalization of $15.36 billion, a price-to-earnings ratio of 9.67, a PEG ratio of -7.76 and a beta of 0.87.

Centurylink (NYSE:CTL) last released its quarterly earnings results on Thursday, November 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. Centurylink had a net margin of 7.81% and a return on equity of 4.45%. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts anticipate that Centurylink Inc will post 1.15 EPS for the current year.

Several equities analysts recently issued reports on CTL shares. Oppenheimer cut their price objective on shares of Centurylink from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, November 9th. Citigroup lowered shares of Centurylink from a “neutral” rating to a “sell” rating and set a $14.48 price target on the stock. in a report on Tuesday. Zacks Investment Research raised shares of Centurylink from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Thursday, December 6th. Cowen reaffirmed a “hold” rating and issued a $21.00 price target on shares of Centurylink in a report on Friday, November 9th. Finally, Moffett Nathanson set a $16.00 price target on shares of Centurylink and gave the stock a “sell” rating in a report on Monday, November 19th. Seven analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $20.12.

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Centurylink Company Profile

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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