Trutina Financial Lowers stake in Centurylink Inc (CTL)

Centurylink Inc (CTL) : Trutina Financial reduced its stake in Centurylink Inc by 2.56% during the most recent quarter end. The investment management company now holds a total of 96,093 shares of Centurylink Inc which is valued at $2,951,016 after selling 2,526 shares in Centurylink Inc , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Centurylink Inc makes up approximately 3.50% of Trutina Financial’s portfolio.

Other Hedge Funds, Including , Daiwa Securities Group reduced its stake in CTL by selling 1,000 shares or 6.08% in the most recent quarter. The Hedge Fund company now holds 15,442 shares of CTL which is valued at $474,224.New York State Teachers Retirement System reduced its stake in CTL by selling 93 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 1,214,447 shares of CTL which is valued at $37,526,412. Centurylink Inc makes up approx 0.10% of New York State Teachers Retirement System’s portfolio.First Manhattan Co boosted its stake in CTL in the latest quarter, The investment management firm added 220 additional shares and now holds a total of 39,955 shares of Centurylink Inc which is valued at $1,235,409. Centurylink Inc makes up approx 0.01% of First Manhattan Co’s portfolio.Dnb Asset Management As boosted its stake in CTL in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 42,067 shares of Centurylink Inc which is valued at $1,271,265. Centurylink Inc makes up approx 0.03% of Dnb Asset Management As’s portfolio.

Centurylink Inc opened for trading at $30.76 and hit $31.5 on the upside on Friday, eventually ending the session at $31.44, with a gain of 1.98% or 0.61 points. The heightened volatility saw the trading volume jump to 62,18,510 shares. Company has a market cap of $17,168 M.

On the company’s financial health, Centurylink Inc reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.68. The company had revenue of $4401.00 million for the quarter, compared to analysts expectations of $4425.72 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on Centurylink Inc. Shares were Downgraded by Morgan Stanley on Jul 18, 2016 to ” Underweight” and Lowered the Price Target to $ 27 from a previous price target of $31 .Macquarie Initiated Centurylink Inc on Jul 11, 2016 to “Neutral”, Price Target of the shares are set at $31.Centurylink Inc was Initiated by Evercore ISI to “Hold” on Jun 22, 2016.

CenturyLink Inc. is an integrated communications company. The Company is engaged in providing an array of communications services to residential business governmental and wholesale customers. The Company’s communications services include local and long-distance broadband private line Multi-Protocol Label Switching (MPLS) data integration managed hosting colocation Ethernet network access video wireless and other ancillary services. The Company operates in two segments: Business and Consumer. The Business segment provides strategic legacy and data integration products and services to enterprise wholesale and governmental customers including other communication providers. The Consumer segment provides strategic and legacy products and services to residential customers.

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