Wedbush Securities Inc. Decreases Holdings in Centurylink Inc (CTL)

Wedbush Securities Inc. cut its stake in Centurylink Inc (NYSE:CTL) by 7.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,574 shares of the technology company’s stock after selling 4,675 shares during the quarter. Wedbush Securities Inc.’s holdings in Centurylink were worth $714,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CTL. Bank of New York Mellon Corp raised its holdings in Centurylink by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,939,352 shares of the technology company’s stock worth $443,913,000 after purchasing an additional 101,260 shares in the last quarter. FMR LLC raised its holdings in Centurylink by 52.0% in the 3rd quarter. FMR LLC now owns 1,844,265 shares of the technology company’s stock worth $39,098,000 after purchasing an additional 631,303 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Centurylink by 14.0% in the 3rd quarter. Pacer Advisors Inc. now owns 51,168 shares of the technology company’s stock worth $1,085,000 after purchasing an additional 6,298 shares in the last quarter. Man Group plc raised its holdings in Centurylink by 2,187.3% in the 3rd quarter. Man Group plc now owns 299,044 shares of the technology company’s stock worth $6,340,000 after purchasing an additional 285,970 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Centurylink by 22.5% in the 3rd quarter. Mackenzie Financial Corp now owns 21,125 shares of the technology company’s stock worth $448,000 after acquiring an additional 3,881 shares in the last quarter. Institutional investors and hedge funds own 76.05% of the company’s stock.

In other news, CFO Indraneel Dev acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $11.75 per share, with a total value of $587,500.00. Following the transaction, the chief financial officer now owns 459,153 shares of the company’s stock, valued at approximately $5,395,047.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven T. Clontz acquired 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of $11.95 per share, for a total transaction of $95,600.00. Following the completion of the transaction, the director now directly owns 202,334 shares in the company, valued at approximately $2,417,891.30. The disclosure for this purchase can be found here. Insiders have purchased a total of 143,000 shares of company stock worth $1,698,720 over the last three months. 0.60% of the stock is currently owned by insiders.

CTL has been the subject of several research reports. Zacks Investment Research upgraded shares of Centurylink from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Wednesday, March 13th. Citigroup lowered shares of Centurylink from a “neutral” rating to a “sell” rating and set a $14.48 price target for the company. in a research note on Tuesday, February 5th. Bank of America lowered shares of Centurylink from a “buy” rating to a “neutral” rating and set a $14.00 price target for the company. in a research note on Tuesday, February 26th. TheStreet lowered shares of Centurylink from a “c” rating to a “d+” rating in a research note on Wednesday, February 13th. Finally, Moffett Nathanson upgraded shares of Centurylink from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $12.00 in a research note on Tuesday, February 19th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.75.

Shares of CTL stock opened at $12.14 on Friday. Centurylink Inc has a one year low of $11.52 and a one year high of $24.20. The stock has a market cap of $13.24 billion, a P/E ratio of 10.20, a PEG ratio of 0.77 and a beta of 0.77. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.79.

Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, February 13th. The technology company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Centurylink had a negative net margin of 7.39% and a positive return on equity of 5.68%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same period in the prior year, the firm posted $0.18 EPS. Centurylink’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts forecast that Centurylink Inc will post 1.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.24%. The ex-dividend date of this dividend was Monday, March 11th. Centurylink’s dividend payout ratio (DPR) is 84.03%.

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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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