Steelhead Partners LLC bought a new position in shares of Centurylink Inc (NYSE:CTL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 525,715 shares of the technology company’s stock, valued at approximately $8,769,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. raised its position in Centurylink by 132.3% during the fourth quarter. Bessemer Group Inc. now owns 6,264 shares of the technology company’s stock worth $104,000 after acquiring an additional 3,568 shares during the last quarter. Citizens Financial Group Inc RI acquired a new position in Centurylink during the fourth quarter worth about $111,000. Bronfman E.L. Rothschild L.P. raised its position in Centurylink by 250.8% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 6,753 shares of the technology company’s stock worth $113,000 after acquiring an additional 4,828 shares during the last quarter. Fieldpoint Private Securities LLC acquired a new position in Centurylink during the third quarter worth about $115,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in Centurylink by 10,329.0% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,196 shares of the technology company’s stock worth $136,000 after acquiring an additional 7,127 shares during the last quarter. Institutional investors own 86.09% of the company’s stock.
Centurylink Inc (CTL) opened at $17.94 on Monday. Centurylink Inc has a 52-week low of $13.16 and a 52-week high of $27.61. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $19,193.33, a P/E ratio of 10.19, a P/E/G ratio of -10.42 and a beta of 0.79.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, March 5th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 12.04%. The ex-dividend date of this dividend is Friday, March 2nd. Centurylink’s dividend payout ratio (DPR) is 122.73%.
A number of equities analysts have issued reports on CTL shares. Royal Bank of Canada upgraded shares of Centurylink from a “sector perform” rating to an “outperform” rating in a research report on Thursday, January 25th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Centurylink from a “hold” rating to a “sell” rating in a research report on Monday, November 13th. Goldman Sachs Group raised shares of Centurylink from a “sell” rating to a “neutral” rating and set a $19.00 price objective for the company in a research report on Monday, January 8th. Barclays raised shares of Centurylink from an “underweight” rating to an “equal weight” rating and set a $16.00 price objective for the company in a research report on Friday, December 15th. Finally, ValuEngine raised shares of Centurylink from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Centurylink presently has an average rating of “Hold” and a consensus price target of $22.01.
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 Enterprise, 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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