Clark Estates Inc. NY Takes Position in CenturyLink, Inc. (CTL)
Clark Estates Inc. NY bought a new position in CenturyLink, Inc. (NYSE:CTL) during the second quarter, Holdings Channel reports. The institutional investor bought 158,000 shares of the technology company’s stock, valued at approximately $5,216,000. CenturyLink accounts for about 0.9% of Clark Estates Inc. NY’s investment portfolio, making the stock its 21st largest position.
A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in CenturyLink by 19.4% in the first quarter. Vanguard Group Inc. now owns 46,767,917 shares of the technology company’s stock worth $1,102,321,000 after buying an additional 7,600,609 shares during the period. Wells Fargo & Company MN increased its stake in CenturyLink by 150.5% in the first quarter. Wells Fargo & Company MN now owns 5,685,844 shares of the technology company’s stock worth $134,016,000 after buying an additional 3,415,959 shares during the last quarter. Thornburg Investment Management Inc. increased its stake in CenturyLink by 107.8% in the first quarter. Thornburg Investment Management Inc. now owns 6,521,497 shares of the technology company’s stock worth $153,712,000 after buying an additional 3,383,155 shares during the last quarter. Pioneer Investment Management Inc. increased its stake in CenturyLink by 1,012.9% in the second quarter. Pioneer Investment Management Inc. now owns 3,516,501 shares of the technology company’s stock worth $83,974,000 after buying an additional 3,200,538 shares during the last quarter. Finally, RidgeWorth Capital Management LLC increased its stake in CenturyLink by 110.4% in the first quarter. RidgeWorth Capital Management LLC now owns 2,464,222 shares of the technology company’s stock worth $58,082,000 after buying an additional 1,293,150 shares during the last quarter. 78.04% of the stock is currently owned by institutional investors and hedge funds.
CenturyLink, Inc. (NYSE CTL) opened at 21.68 on Friday. The company has a 50-day moving average of $23.25 and a 200 day moving average of $24.35. CenturyLink, Inc. has a 52-week low of $21.61 and a 52-week high of $33.45. The company has a market cap of $11.92 billion, a PE ratio of 31.42 and a beta of 0.87. CenturyLink also was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 20,516 call options on the company. This represents an increase of approximately 363% compared to the average volume of 4,432 call options.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by $0.03. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The business’s quarterly revenue was down 7.0% on a year-over-year basis. Equities research analysts predict that CenturyLink, Inc. will post $1.95 EPS for the current year.
CTL has been the topic of a number of recent research reports. Vetr raised CenturyLink from a “buy” rating to a “strong-buy” rating and set a $27.12 price objective on the stock in a report on Monday, May 8th. Zacks Investment Research raised CenturyLink from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, April 26th. Cowen and Company lifted their price objective on CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Wednesday, July 5th. BidaskClub raised CenturyLink from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of CenturyLink in a report on Monday, May 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. CenturyLink presently has a consensus rating of “Hold” and an average target price of $26.22.
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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