Kestra Private Wealth Services LLC Sells 2,684 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Kestra Private Wealth Services LLC cut its holdings in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 6.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 36,443 shares of the technology company’s stock after selling 2,684 shares during the period. Kestra Private Wealth Services LLC’s holdings in Lumen Technologies were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LUMN. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Lumen Technologies by 0.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,226 shares of the technology company’s stock worth $1,377,000 after acquiring an additional 876 shares during the last quarter. Wellington Shields & Co. LLC grew its stake in shares of Lumen Technologies by 3.0% in the 1st quarter. Wellington Shields & Co. LLC now owns 33,874 shares of the technology company’s stock worth $382,000 after buying an additional 975 shares during the last quarter. Commerce Bank grew its position in Lumen Technologies by 8.4% during the 1st quarter. Commerce Bank now owns 12,793 shares of the technology company’s stock valued at $144,000 after purchasing an additional 989 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Lumen Technologies by 8.3% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,045 shares of the technology company’s stock worth $147,000 after purchasing an additional 995 shares in the last quarter. Finally, Sanders Morris Harris LLC boosted its holdings in Lumen Technologies by 5.3% in the first quarter. Sanders Morris Harris LLC now owns 19,720 shares of the technology company’s stock worth $222,000 after purchasing an additional 1,000 shares during the last quarter. 79.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LUMN has been the topic of several research analyst reports. TheStreet downgraded Lumen Technologies from a “b” rating to a “c” rating in a research report on Monday, August 15th. JPMorgan Chase & Co. initiated coverage on shares of Lumen Technologies in a report on Friday, August 5th. They set an “underweight” rating and a $10.00 price objective on the stock. Finally, Royal Bank of Canada raised their price target on shares of Lumen Technologies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a report on Thursday, August 11th.

Lumen Technologies Trading Up 0.2 %

NYSE LUMN opened at $8.82 on Tuesday. The firm has a 50-day moving average price of $10.49 and a 200 day moving average price of $10.92. Lumen Technologies, Inc. has a 52-week low of $8.69 and a 52-week high of $14.49. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 2.29. The stock has a market capitalization of $9.13 billion, a P/E ratio of 4.55 and a beta of 0.97.

Lumen Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 30th were issued a $0.25 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.00 annualized dividend and a yield of 11.34%. Lumen Technologies’s dividend payout ratio is presently 51.55%.

Lumen Technologies Profile

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Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.

See Also

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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