Mn Services Vermogensbeheer B.V. Reduces Position in Lumen Technologies, Inc. (NYSE:LUMN)

Mn Services Vermogensbeheer B.V. lessened its position in shares of Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 5.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 511,600 shares of the technology company’s stock after selling 29,900 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Lumen Technologies were worth $3,724,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LUMN. Invesco Ltd. grew its stake in Lumen Technologies by 24.1% during the 1st quarter. Invesco Ltd. now owns 15,016,053 shares of the technology company’s stock worth $169,230,000 after buying an additional 2,919,199 shares during the last quarter. Vanguard Group Inc. grew its stake in Lumen Technologies by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 116,137,605 shares of the technology company’s stock worth $1,308,871,000 after buying an additional 2,726,090 shares during the last quarter. Northern Trust Corp grew its stake in Lumen Technologies by 18.1% during the 2nd quarter. Northern Trust Corp now owns 13,972,016 shares of the technology company’s stock worth $152,435,000 after buying an additional 2,144,757 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Lumen Technologies during the 2nd quarter worth approximately $15,494,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Lumen Technologies by 69.9% in the 1st quarter. Allianz Asset Management GmbH now owns 3,146,562 shares of the technology company’s stock valued at $35,461,000 after purchasing an additional 1,294,368 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.

Insider Buying and Selling

In related news, Director Martha Helena Bejar purchased 12,500 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was bought at an average cost of $6.36 per share, with a total value of $79,500.00. Following the completion of the acquisition, the director now directly owns 101,430 shares in the company, valued at approximately $645,094.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director T Michael Glenn purchased 20,000 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was bought at an average cost of $5.92 per share, with a total value of $118,400.00. Following the completion of the acquisition, the director now directly owns 136,414 shares in the company, valued at approximately $807,570.88. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martha Helena Bejar purchased 12,500 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was bought at an average cost of $6.36 per share, with a total value of $79,500.00. Following the completion of the acquisition, the director now owns 101,430 shares of the company’s stock, valued at $645,094.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 37,500 shares of company stock valued at $224,600. 0.76% of the stock is owned by insiders.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $5.90 on Tuesday. The stock has a fifty day moving average price of $5.62 and a 200 day moving average price of $7.97. The stock has a market cap of $6.10 billion, a PE ratio of 2.95 and a beta of 0.99. Lumen Technologies, Inc. has a 1 year low of $4.99 and a 1 year high of $12.93. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.08 and a current ratio of 1.08.

Lumen Technologies (NYSE:LUMNGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.22). The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.41 billion. Lumen Technologies had a return on equity of 13.58% and a net margin of 10.95%. Sell-side analysts forecast that Lumen Technologies, Inc. will post 1.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company downgraded Lumen Technologies from an “overweight” rating to an “equal weight” rating and set a $8.00 target price on the stock. in a research note on Wednesday, October 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $6.00 target price on shares of Lumen Technologies in a research note on Tuesday, December 6th. UBS Group lowered their target price on Lumen Technologies from $11.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Citigroup lowered their target price on Lumen Technologies from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, October 13th. Finally, Royal Bank of Canada lowered their target price on Lumen Technologies from $11.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 20th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.00.

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.

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

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