FrontFour Capital Group LLC lifted its stake in shares of Centurylink Inc (NYSE:CTL) by 19.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 430,004 shares of the technology company’s stock after purchasing an additional 69,597 shares during the quarter. Centurylink comprises about 5.7% of FrontFour Capital Group LLC’s investment portfolio, making the stock its 9th largest position. FrontFour Capital Group LLC’s holdings in Centurylink were worth $6,515,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Signet Investment Advisory Group Inc. acquired a new stake in Centurylink in the 4th quarter valued at about $34,000. Doyle Wealth Management acquired a new stake in Centurylink in the 4th quarter valued at about $35,000. Pearl River Capital LLC acquired a new stake in Centurylink in the 4th quarter valued at about $42,000. Benjamin F. Edwards & Company Inc. grew its stake in Centurylink by 34.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,513 shares of the technology company’s stock valued at $53,000 after acquiring an additional 904 shares during the last quarter. Finally, Intercontinental Wealth Advisors LLC acquired a new stake in Centurylink in the 4th quarter valued at about $61,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Jeffrey K. Storey acquired 83,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $11.94 per share, for a total transaction of $991,020.00. Following the acquisition, the chief executive officer now directly owns 3,476,359 shares in the company, valued at approximately $41,507,726.46. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven T. Clontz acquired 8,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $11.95 per share, for a total transaction of $95,600.00. Following the completion of the acquisition, the director now owns 202,334 shares in the company, valued at $2,417,891.30. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 143,000 shares of company stock worth $1,698,720. Insiders own 0.60% of the company’s stock.
Shares of CTL stock opened at $12.09 on Friday. The stock has a market cap of $13.05 billion, a PE ratio of 10.16, a P/E/G ratio of 1.84 and a beta of 0.78. Centurylink Inc has a 1-year low of $11.52 and a 1-year high of $24.20. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.78 and a current ratio of 0.69.
Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, February 13th. The technology company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.78 billion. Centurylink had a negative net margin of 7.39% and a positive return on equity of 5.68%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. Analysts forecast that Centurylink Inc will post 1.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Tuesday, March 12th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 8.27%. Centurylink’s payout ratio is currently 84.03%.
A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Centurylink from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. UBS Group cut shares of Centurylink from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $24.00 to $14.00 in a research note on Thursday, February 14th. ValuEngine cut shares of Centurylink from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 14th. TheStreet cut shares of Centurylink from a “b-” rating to a “c+” rating in a research note on Friday, January 4th. Finally, Edward Jones cut shares of Centurylink to a “sell” rating in a research note on Tuesday, March 5th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Centurylink presently has an average rating of “Hold” and a consensus target price of $16.75.
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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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