North Star Asset Management Inc. Has $682,000 Position in CenturyLink Inc. (CTL)
North Star Asset Management Inc. maintained its stake in CenturyLink Inc. (NYSE:CTL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,344 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in CenturyLink were worth $682,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Teachers Advisors Inc. boosted its stake in CenturyLink by 12.9% in the first quarter. Teachers Advisors Inc. now owns 1,103,361 shares of the company’s stock worth $35,263,000 after buying an additional 126,165 shares during the period. Columbia Partners L L C Investment Management purchased a new stake in CenturyLink during the first quarter worth approximately $980,000. Acrospire Investment Management LLC purchased a new stake in CenturyLink during the first quarter worth approximately $109,000. Bessemer Group Inc. boosted its stake in CenturyLink by 44.5% in the first quarter. Bessemer Group Inc. now owns 3,450 shares of the company’s stock worth $110,000 after buying an additional 1,062 shares during the period. Finally, Landscape Capital Management L.L.C. boosted its stake in CenturyLink by 22.2% in the first quarter. Landscape Capital Management L.L.C. now owns 43,700 shares of the company’s stock worth $1,397,000 after buying an additional 7,947 shares during the period. Institutional investors own 73.33% of the company’s stock.
Shares of CenturyLink Inc. (NYSE:CTL) traded down 0.72% during trading on Tuesday, reaching $27.64. The company had a trading volume of 1,967,108 shares. The stock’s 50-day moving average price is $27.78 and its 200-day moving average price is $29.15. CenturyLink Inc. has a 52 week low of $21.94 and a 52 week high of $32.94. The company has a market capitalization of $15.09 billion, a PE ratio of 15.48 and a beta of 0.80.
CenturyLink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The company earned $440 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that CenturyLink Inc. will post $2.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.54 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $2.16 annualized dividend and a dividend yield of 7.76%. CenturyLink’s dividend payout ratio (DPR) is presently 120.67%.
CTL has been the subject of a number of research reports. Evercore ISI initiated coverage on CenturyLink in a research report on Tuesday, June 21st. They set a “hold” rating and a $28.00 price objective for the company. Vetr upgraded CenturyLink from a “strong sell” rating to a “hold” rating and set a $29.00 price objective for the company in a research report on Wednesday, July 6th. Macquarie initiated coverage on CenturyLink in a research report on Monday, July 11th. They set a “neutral” rating and a $31.00 price objective for the company. Morgan Stanley cut CenturyLink from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $31.00 to $27.00 in a research report on Monday, July 18th. Finally, Zacks Investment Research cut CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $28.37.
In other news, Director Harvey P. Perry sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total value of $620,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by insiders.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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