BB&T Securities LLC Raises Position in Centurylink Inc (CTL)

BB&T Securities LLC grew its position in shares of Centurylink Inc (NYSE:CTL) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,174 shares of the technology company’s stock after purchasing an additional 1,481 shares during the period. BB&T Securities LLC’s holdings in Centurylink were worth $2,759,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its position in Centurylink by 3.2% during the second quarter. Advisors Asset Management Inc. now owns 1,270,856 shares of the technology company’s stock valued at $23,689,000 after purchasing an additional 38,953 shares in the last quarter. Schroder Investment Management Group purchased a new stake in Centurylink during the second quarter valued at about $726,000. Bank of Montreal Can raised its position in Centurylink by 12.4% during the third quarter. Bank of Montreal Can now owns 1,637,630 shares of the technology company’s stock valued at $34,718,000 after purchasing an additional 180,321 shares in the last quarter. First Hawaiian Bank purchased a new stake in Centurylink during the third quarter valued at about $471,000. Finally, Andra AP fonden raised its position in Centurylink by 58.9% during the third quarter. Andra AP fonden now owns 85,000 shares of the technology company’s stock valued at $1,802,000 after purchasing an additional 31,500 shares in the last quarter. 75.53% of the stock is currently owned by institutional investors.

NYSE CTL opened at $14.70 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $15.25 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of -7.81 and a beta of 0.87. Centurylink Inc has a 1 year low of $13.88 and a 1 year high of $24.20.

A number of brokerages have recently issued reports on CTL. Zacks Investment Research raised Centurylink from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, November 16th. TheStreet cut Centurylink from a “b-” rating to a “c+” rating in a research note on Friday, January 4th. ValuEngine cut Centurylink from a “buy” rating to a “hold” rating in a research note on Friday, November 23rd. Cowen reaffirmed a “hold” rating and set a $21.00 price objective on shares of Centurylink in a research note on Friday, November 9th. Finally, Oppenheimer reduced their price objective on Centurylink from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, November 9th. Seven analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $20.12.

In related news, EVP Scott Trezise sold 53,164 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $18.88, for a total value of $1,003,736.32. Following the sale, the executive vice president now directly owns 187,867 shares of the company’s stock, valued at $3,546,928.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings (Private) Ltd Temasek sold 16,000,000 shares of the firm’s stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $15.90, for a total value of $254,400,000.00. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

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About Centurylink

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.

Further Reading: Moving Average (MA)

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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