Tocqueville Asset Management L.P. lifted its position in shares of Centurylink Inc (NYSE:CTL) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,024 shares of the technology company’s stock after buying an additional 21,826 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Centurylink were worth $3,537,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Focused Wealth Management Inc grew its holdings in shares of Centurylink by 1,740.1% during the fourth quarter. Focused Wealth Management Inc now owns 11,758 shares of the technology company’s stock worth $196,000 after buying an additional 11,119 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Centurylink by 25.5% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 515,659 shares of the technology company’s stock worth $8,601,000 after buying an additional 104,932 shares in the last quarter. Cove Street Capital LLC grew its holdings in shares of Centurylink by 761.3% during the fourth quarter. Cove Street Capital LLC now owns 645,082 shares of the technology company’s stock worth $10,760,000 after buying an additional 570,182 shares in the last quarter. Truewealth LLC purchased a new stake in shares of Centurylink during the fourth quarter worth about $698,000. Finally, Snow Capital Management LP grew its holdings in shares of Centurylink by 106.1% during the fourth quarter. Snow Capital Management LP now owns 311,604 shares of the technology company’s stock worth $5,198,000 after buying an additional 160,425 shares in the last quarter. Institutional investors and hedge funds own 85.59% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised shares of Centurylink from a “sector perform” rating to an “outperform” rating in a research report on Thursday, January 25th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Centurylink from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. Goldman Sachs Group raised shares of Centurylink from a “sell” rating to a “neutral” rating and set a $19.00 target price on the stock in a research report on Monday, January 8th. Barclays raised shares of Centurylink from an “underweight” rating to an “equal weight” rating and set a $16.00 target price on the stock in a research report on Friday, December 15th. Finally, ValuEngine raised shares of Centurylink from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.01.
Centurylink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, February 14th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.69 billion. Centurylink had a net margin of 7.87% and a return on equity of 5.88%. During the same period last year, the firm earned $0.54 earnings per share. equities research analysts predict that Centurylink Inc will post 0.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Monday, March 5th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 12.04%. Centurylink’s dividend payout ratio (DPR) is 122.73%.
In other Centurylink news, Director Virginia Boulet purchased 5,095 shares of Centurylink stock in a transaction on Monday, December 11th. The shares were purchased at an average cost of $15.48 per share, with a total value of $78,870.60. Following the completion of the transaction, the director now directly owns 42,820 shares in the company, valued at approximately $662,853.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.61% of the company’s stock.
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 Enterprise, 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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