Coastline Trust Co Has $435,000 Position in CenturyLink, Inc. (CTL)
Coastline Trust Co maintained its stake in CenturyLink, Inc. (NYSE:CTL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,190 shares of the technology company’s stock at the end of the 2nd quarter. Coastline Trust Co’s holdings in CenturyLink were worth $435,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of CenturyLink by 28.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 53,164 shares of the technology company’s stock worth $1,270,000 after purchasing an additional 11,827 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in shares of CenturyLink by 7.0% during the second quarter. Nations Financial Group Inc. IA ADV now owns 24,762 shares of the technology company’s stock valued at $591,000 after buying an additional 1,618 shares in the last quarter. HPM Partners LLC purchased a new position in shares of CenturyLink during the second quarter valued at $9,430,000. Franklin Resources Inc. grew its holdings in shares of CenturyLink by 73.8% during the second quarter. Franklin Resources Inc. now owns 26,798 shares of the technology company’s stock valued at $640,000 after buying an additional 11,380 shares in the last quarter. Finally, Eaton Vance Management grew its holdings in shares of CenturyLink by 0.5% during the second quarter. Eaton Vance Management now owns 12,640 shares of the technology company’s stock valued at $302,000 after buying an additional 57 shares in the last quarter. 83.02% of the stock is currently owned by institutional investors.
A number of research analysts have commented on CTL shares. UBS AG set a $29.00 target price on CenturyLink and gave the company a “buy” rating in a research note on Thursday, June 22nd. BidaskClub downgraded CenturyLink from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. ValuEngine raised CenturyLink from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Royal Bank Of Canada reissued a “hold” rating and set a $25.00 price objective on shares of CenturyLink in a research report on Thursday, May 25th. Finally, Cowen and Company reissued a “neutral” rating on shares of CenturyLink in a research report on Monday, August 14th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $26.15.
Shares of CenturyLink, Inc. (NYSE:CTL) opened at 19.11 on Wednesday. CenturyLink, Inc. has a one year low of $18.19 and a one year high of $33.45. The stock’s 50 day moving average price is $21.07 and its 200-day moving average price is $23.56. The company has a market cap of $10.50 billion, a PE ratio of 27.70 and a beta of 0.89.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. On average, analysts expect that CenturyLink, Inc. will post $1.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 11.30%. The ex-dividend date is Thursday, August 31st. CenturyLink’s dividend payout ratio is currently 313.04%.
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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