California Public Employees Retirement System Has $47.60 Million Position in Centurylink Inc (CTL)

California Public Employees Retirement System trimmed its stake in shares of Centurylink Inc (NYSE:CTL) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,553,543 shares of the technology company’s stock after selling 167,554 shares during the quarter. California Public Employees Retirement System owned 0.24% of Centurylink worth $47,598,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CTL. Neuberger Berman Group LLC boosted its position in shares of Centurylink by 544.4% during the 1st quarter. Neuberger Berman Group LLC now owns 662,872 shares of the technology company’s stock worth $10,916,000 after acquiring an additional 560,010 shares in the last quarter. Korea Investment CORP boosted its position in shares of Centurylink by 2,417.2% during the 1st quarter. Korea Investment CORP now owns 229,824 shares of the technology company’s stock worth $3,776,000 after acquiring an additional 220,694 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Centurylink by 7.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 98,767 shares of the technology company’s stock valued at $1,623,000 after purchasing an additional 6,738 shares during the period. Private Advisor Group LLC boosted its position in shares of Centurylink by 161.8% in the 1st quarter. Private Advisor Group LLC now owns 52,299 shares of the technology company’s stock valued at $859,000 after purchasing an additional 32,323 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its position in shares of Centurylink by 19.1% in the 1st quarter. Glen Harbor Capital Management LLC now owns 96,390 shares of the technology company’s stock valued at $1,583,000 after purchasing an additional 15,470 shares during the period. 76.98% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the company. Hanson cut Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 target price for the company. in a research report on Wednesday, August 22nd. Moffett Nathanson reissued a “sell” rating and issued a $23.00 target price on shares of Centurylink in a research report on Wednesday, August 22nd. Royal Bank of Canada upped their target price on Centurylink to $27.00 and gave the company an “outperform” rating in a research report on Thursday, August 16th. ValuEngine raised Centurylink from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Finally, Morgan Stanley upped their target price on Centurylink from $21.60 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, August 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Centurylink presently has a consensus rating of “Hold” and an average target price of $21.18.

In other Centurylink news, Director Glen F. Post III sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by corporate insiders.

CTL opened at $22.94 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.60. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of -14.04 and a beta of 0.83. Centurylink Inc has a 52 week low of $13.16 and a 52 week high of $24.20.

Centurylink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.92 billion. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The firm’s revenue was up 44.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. equities research analysts expect that Centurylink Inc will post 1.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 9.42%. The ex-dividend date was Thursday, August 30th. Centurylink’s dividend payout ratio is presently 146.94%.

Centurylink Profile

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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