M&T Bank Corp boosted its stake in shares of Centurylink Inc (NYSE:CTL) by 11.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,874 shares of the technology company’s stock after acquiring an additional 5,838 shares during the quarter. M&T Bank Corp’s holdings in Centurylink were worth $692,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in shares of Centurylink by 11.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,680,285 shares of the technology company’s stock worth $66,801,000 after purchasing an additional 594,373 shares in the last quarter. Cognios Capital LLC bought a new stake in Centurylink during the second quarter worth about $2,396,000. Wealthsource Partners LLC grew its stake in Centurylink by 23.4% during the second quarter. Wealthsource Partners LLC now owns 13,345 shares of the technology company’s stock worth $157,000 after buying an additional 2,529 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Centurylink by 16.7% during the second quarter. Russell Investments Group Ltd. now owns 592,897 shares of the technology company’s stock worth $6,949,000 after buying an additional 84,743 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Centurylink by 12.5% during the second quarter. Prudential Financial Inc. now owns 3,599,691 shares of the technology company’s stock worth $42,332,000 after buying an additional 398,991 shares in the last quarter. Hedge funds and other institutional investors own 73.31% of the company’s stock.
A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Centurylink from a “neutral” rating to an “underweight” rating and set a $10.00 target price for the company. in a research note on Thursday, August 8th. Wells Fargo & Co set a $14.00 price target on Centurylink and gave the stock a “buy” rating in a research report on Monday, August 12th. Guggenheim set a $10.00 price target on Centurylink and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, Raymond James raised Centurylink from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.59.
Centurylink (NYSE:CTL) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. Centurylink had a negative net margin of 34.77% and a positive return on equity of 8.30%. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. Centurylink’s revenue was down 5.4% compared to the same quarter last year. On average, research analysts anticipate that Centurylink Inc will post 1.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.63%. The ex-dividend date of this dividend is Thursday, August 29th. Centurylink’s dividend payout ratio is 84.03%.
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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