Gyroscope Capital Management Group LLC Sold 44,032 Shares of Centurylink Inc (CTL)

Gyroscope Capital Management Group LLC Sold 44,032 Shares of Centurylink Inc (CTL)

Gyroscope Capital Management Group LLC cut its stake in shares of Centurylink Inc (NYSE:CTL) by 11.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 357,570 shares of the technology company’s stock after selling 44,032 shares during the period. Centurylink makes up 3.2% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 11th largest holding. Gyroscope Capital Management Group LLC’s holdings in Centurylink were worth $7,816,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Temasek Holdings Private Ltd raised its position in Centurylink by 16.4% in the second quarter. Temasek Holdings Private Ltd now owns 123,201,207 shares of the technology company’s stock worth $2,296,470,000 after acquiring an additional 17,339,784 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Centurylink by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 12,817,283 shares of the technology company’s stock worth $238,924,000 after acquiring an additional 627,080 shares in the last quarter. Beck Mack & Oliver LLC raised its position in Centurylink by 10.5% in the second quarter. Beck Mack & Oliver LLC now owns 6,227,820 shares of the technology company’s stock worth $116,087,000 after acquiring an additional 593,105 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Centurylink by 5.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,962,275 shares of the technology company’s stock worth $92,497,000 after acquiring an additional 278,489 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its position in Centurylink by 12.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 4,670,117 shares of the technology company’s stock worth $76,731,000 after acquiring an additional 516,384 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

CTL has been the subject of a number of research analyst reports. Zacks Investment Research cut Centurylink from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 24th. Royal Bank of Canada raised their price target on Centurylink to $27.00 and gave the company an “outperform” rating in a research report on Thursday, August 16th. Hanson cut Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 price target for the company. in a research report on Wednesday, August 22nd. Moffett Nathanson restated a “sell” rating and issued a $23.00 price target on shares of Centurylink in a research report on Wednesday, August 22nd. Finally, Bank of America set a $27.00 price target on Centurylink and gave the company a “buy” rating in a research report on Wednesday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Centurylink presently has a consensus rating of “Hold” and an average target price of $21.33.

In related news, Director Glen F. Post III sold 150,000 shares of Centurylink stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.60% of the company’s stock.

Centurylink stock opened at $21.03 on Wednesday. The stock has a market cap of $22.91 billion, a P/E ratio of 14.31, a P/E/G ratio of -13.19 and a beta of 0.86. Centurylink Inc has a 52 week low of $13.16 and a 52 week high of $24.20. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.98 and a quick ratio of 0.98.

Centurylink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The firm’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. As a group, sell-side analysts forecast that Centurylink Inc will post 1.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 10.27%. The ex-dividend date of this dividend was Thursday, August 30th. Centurylink’s dividend payout ratio is presently 146.94%.

Centurylink Company 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.

See Also: Ex-Dividend

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