DekaBank Deutsche Girozentrale trimmed its holdings in Centurylink Inc (NYSE:CTL) by 36.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,041 shares of the technology company’s stock after selling 42,316 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Centurylink were worth $997,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CTL. Cornerstone Advisors Inc. lifted its stake in Centurylink by 68.7% in the 3rd quarter. Cornerstone Advisors Inc. now owns 2,058 shares of the technology company’s stock worth $26,000 after purchasing an additional 838 shares in the last quarter. Sugarloaf Wealth Management LLC purchased a new position in Centurylink in the 4th quarter worth approximately $28,000. Farmers & Merchants Investments Inc. lifted its stake in Centurylink by 54.9% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 2,823 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,000 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Centurylink by 165.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,340 shares of the technology company’s stock worth $44,000 after purchasing an additional 2,081 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in Centurylink in the 3rd quarter worth approximately $45,000. 75.01% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on CTL shares. Guggenheim lowered shares of Centurylink from a “neutral” rating to a “sell” rating and set a $10.00 target price on the stock. in a research note on Wednesday, November 6th. Evercore ISI began coverage on shares of Centurylink in a research report on Wednesday, December 11th. They set an “underperform” rating and a $14.00 price target on the stock. ValuEngine lowered shares of Centurylink from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. TheStreet raised shares of Centurylink from a “d+” rating to a “c” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley lowered shares of Centurylink from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $16.00 to $14.80 in a research report on Tuesday, December 17th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Centurylink currently has an average rating of “Hold” and an average price target of $13.09.
Centurylink (NYSE:CTL) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.55 billion. Centurylink had a negative net margin of 23.52% and a positive return on equity of 10.33%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. Equities research analysts predict that Centurylink Inc will post 1.43 EPS for the current fiscal year.
In other Centurylink news, Director Laurie Siegel sold 3,072 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $14.00, for a total value of $43,008.00. Following the sale, the director now owns 59,358 shares of the company’s stock, valued at $831,012. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.
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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