Rock Point Advisors LLC increased its position in shares of Centurylink Inc (NYSE:CTL) by 74.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 997,121 shares of the technology company’s stock after buying an additional 427,095 shares during the period. Centurylink accounts for 5.6% of Rock Point Advisors LLC’s holdings, making the stock its 3rd biggest holding. Rock Point Advisors LLC’s holdings in Centurylink were worth $11,955,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TIAA CREF Investment Management LLC grew its holdings in Centurylink by 2.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 3,979,739 shares of the technology company’s stock worth $84,370,000 after buying an additional 87,018 shares in the last quarter. Morgan Stanley grew its holdings in Centurylink by 8.2% in the 3rd quarter. Morgan Stanley now owns 7,230,528 shares of the technology company’s stock worth $153,286,000 after buying an additional 549,930 shares in the last quarter. Bank of Montreal Can grew its holdings in Centurylink by 4.1% in the 4th quarter. Bank of Montreal Can now owns 1,704,870 shares of the technology company’s stock worth $25,828,000 after buying an additional 67,240 shares in the last quarter. NuWave Investment Management LLC grew its holdings in Centurylink by 180.2% in the 4th quarter. NuWave Investment Management LLC now owns 4,208 shares of the technology company’s stock worth $64,000 after buying an additional 2,706 shares in the last quarter. Finally, Alethea Capital Management LLC bought a new position in Centurylink in the 4th quarter worth approximately $175,000. 85.34% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CTL opened at $9.65 on Thursday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $11.15 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 0.91 and a beta of 0.74. Centurylink Inc has a 1 year low of $9.91 and a 1 year high of $24.20.
Centurylink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.07. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.71 billion. Centurylink had a positive return on equity of 6.89% and a negative net margin of 34.62%. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. Equities research analysts forecast that Centurylink Inc will post 1.29 earnings per share for the current year.
A number of brokerages recently issued reports on CTL. Guggenheim raised Centurylink from a “sell” rating to a “neutral” rating in a report on Thursday. They noted that the move was a valuation call. ValuEngine lowered Centurylink from a “sell” rating to a “strong sell” rating in a report on Thursday, February 14th. Citigroup lowered Centurylink from a “neutral” rating to a “sell” rating and set a $14.48 price objective for the company. in a report on Tuesday, February 5th. Zacks Investment Research lowered Centurylink from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Bank of America lowered Centurylink from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a report on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.65.
In other news, CEO Jeffrey K. Storey purchased 83,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $11.94 per share, with a total value of $991,020.00. Following the purchase, the chief executive officer now owns 3,476,359 shares in the company, valued at approximately $41,507,726.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Harvey P. Perry purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average cost of $10.92 per share, with a total value of $109,200.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 190,000 shares of company stock valued at $2,212,330. 0.50% of the stock is currently owned by corporate insiders.
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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.
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