The Brown Brothers Harriman & Co. Increases Stake in CenturyLink, Inc. (CTL)

The Brown Brothers Harriman & Co. Increases Stake in CenturyLink, Inc. (CTL)

Brown Brothers Harriman & Co. boosted its stake in CenturyLink, Inc. (NYSE:CTL) by 21.8% during the third quarter, Holdings Channel reports. The firm owned 13,963 shares of the company’s stock after buying an additional 2,500 shares during the period. Brown Brothers Harriman & Co.’s holdings in CenturyLink were worth $383,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Advisory Services Network LLC raised its stake in CenturyLink by 6.6% in the second quarter. Advisory Services Network LLC now owns 15,703 shares of the company’s stock worth $456,000 after buying an additional 968 shares during the period. First Midwest Bank Trust Division raised its stake in CenturyLink by 92.3% in the second quarter. First Midwest Bank Trust Division now owns 18,115 shares of the company’s stock worth $525,000 after buying an additional 8,693 shares during the period. Calamos Advisors LLC raised its stake in CenturyLink by 7.6% in the second quarter. Calamos Advisors LLC now owns 110,744 shares of the company’s stock worth $3,213,000 after buying an additional 7,839 shares during the period. American Century Companies Inc. raised its stake in CenturyLink by 5.8% in the second quarter. American Century Companies Inc. now owns 5,400,275 shares of the company’s stock worth $156,662,000 after buying an additional 296,143 shares during the period. Finally, Retirement Systems of Alabama raised its stake in CenturyLink by 0.9% in the second quarter. Retirement Systems of Alabama now owns 278,383 shares of the company’s stock worth $8,076,000 after buying an additional 2,583 shares during the period. Institutional investors own 73.60% of the company’s stock.

CenturyLink, Inc. (NYSE:CTL) remained flat at $25.47 during mid-day trading on Wednesday. The company’s stock had a trading volume of 5,841,822 shares. CenturyLink, Inc. has a 1-year low of $22.37 and a 1-year high of $33.45. The firm has a 50 day moving average of $24.42 and a 200 day moving average of $27.16. The company has a market capitalization of $13.92 billion, a P/E ratio of 15.01 and a beta of 0.80.

CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.01. CenturyLink had a net margin of 5.22% and a return on equity of 10.48%. The business earned $4.38 billion during the quarter. During the same period last year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities analysts predict that CenturyLink, Inc. will post $2.47 earnings per share for the current year.

CTL has been the subject of a number of analyst reports. SunTrust Banks, Inc. initiated coverage on CenturyLink in a research report on Monday, December 12th. They issued a “hold” rating and a $27.00 price target for the company. Zacks Investment Research lowered CenturyLink from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. J P Morgan Chase & Co upgraded CenturyLink from a “neutral” rating to an “overweight” rating and set a $28.00 price target for the company in a research report on Tuesday, January 3rd. Vetr lowered CenturyLink from a “strong-buy” rating to a “buy” rating and set a $27.84 price target for the company. in a research report on Tuesday. Finally, Cowen and Company set a $29.00 price target on CenturyLink and gave the company a “hold” rating in a research report on Tuesday, December 20th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. CenturyLink presently has an average rating of “Hold” and a consensus target price of $28.52.

In other news, Director William Arthur Owens bought 42,800 shares of the stock in a transaction on Monday, November 7th. The stock was purchased at an average cost of $23.35 per share, with a total value of $999,380.00. Following the purchase, the director now owns 95,275 shares of the company’s stock, valued at $2,224,671.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harvey P. Perry sold 10,000 shares of CenturyLink stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $32.50, for a total transaction of $325,000.00. Following the completion of the sale, the director now directly owns 77,607 shares of the company’s stock, valued at $2,522,227.50. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

CenturyLink Company Profile

CenturyLink, Inc is a United States-based integrated communications company, which is engaged in providing a range of communications services to its residential and business customers. The Company operates through two segments: Business, which includes provision of 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 includes provision of strategic and legacy products and services to residential customers.

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