Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 1.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,329,673 shares of the technology company’s stock after selling 65,385 shares during the period. Legal & General Group Plc’s holdings in Lumen Technologies were worth $17,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LUMN. Smartleaf Asset Management LLC boosted its position in shares of Lumen Technologies by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock worth $36,000 after acquiring an additional 4,277 shares during the last quarter. R Squared Ltd acquired a new position in shares of Lumen Technologies in the 4th quarter valued at $48,000. HB Wealth Management LLC acquired a new stake in shares of Lumen Technologies during the 4th quarter worth $59,000. M&T Bank Corp purchased a new position in shares of Lumen Technologies in the 4th quarter worth $66,000. Finally, Whipplewood Advisors LLC acquired a new position in Lumen Technologies in the fourth quarter valued at $67,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective on the stock in a research note on Friday, February 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and cut their target price for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.59.

Lumen Technologies Stock Down 0.6 %

Shares of Lumen Technologies stock opened at $3.44 on Tuesday. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The company has a market capitalization of $3.53 billion, a PE ratio of -68.79 and a beta of 1.29. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The business has a 50-day moving average of $4.45 and a 200-day moving average of $5.77.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Lumen Technologies Company Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.