Nuveen Asset Management LLC raised its stake in CenturyLink, Inc. (NYSE:CTL) by 6.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 607,477 shares of the technology company’s stock after buying an additional 36,637 shares during the period. Nuveen Asset Management LLC owned about 0.11% of CenturyLink worth $14,318,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Trust Co increased its position in shares of CenturyLink by 33.1% in the fourth quarter. Trust Co now owns 18,075 shares of the technology company’s stock valued at $429,000 after buying an additional 4,500 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of CenturyLink by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 472,272 shares of the technology company’s stock valued at $11,131,000 after buying an additional 13,993 shares during the period. Macquarie Group Ltd. increased its position in shares of CenturyLink by 69.8% in the fourth quarter. Macquarie Group Ltd. now owns 44,100 shares of the technology company’s stock valued at $1,049,000 after buying an additional 18,124 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in CenturyLink during the fourth quarter valued at $421,000. Finally, Kentucky Retirement Systems purchased a new stake in CenturyLink during the fourth quarter valued at $943,000. Hedge funds and other institutional investors own 77.52% of the company’s stock.
Shares of CenturyLink, Inc. (NYSE:CTL) traded down 1.36% during trading on Friday, hitting $23.28. The company’s stock had a trading volume of 6,969,815 shares. CenturyLink, Inc. has a one year low of $22.26 and a one year high of $33.45. The company has a 50-day moving average price of $24.15 and a 200-day moving average price of $24.52. The stock has a market cap of $12.78 billion, a PE ratio of 22.82 and a beta of 0.88.
CenturyLink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.27 billion. CenturyLink had a net margin of 3.20% and a return on equity of 8.96%. The company’s revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. Equities analysts predict that CenturyLink, Inc. will post $2.08 EPS for the current fiscal year.
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Several research firms have weighed in on CTL. BidaskClub downgraded CenturyLink from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Cowen and Company reiterated a “hold ctl” rating on shares of CenturyLink in a research note on Thursday, July 6th. Barclays PLC dropped their price target on CenturyLink from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Thursday, June 29th. UBS AG set a $29.00 price target on CenturyLink and gave the company a “buy” rating in a research note on Thursday, June 22nd. Finally, ValuEngine downgraded CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. CenturyLink currently has a consensus rating of “Hold” and a consensus price target 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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