Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by LPL Financial LLC

LPL Financial LLC lowered its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 523,460 shares of the technology company’s stock after selling 166,147 shares during the quarter. LPL Financial LLC owned about 0.05% of Lumen Technologies worth $2,732,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. TD Asset Management Inc boosted its position in Lumen Technologies by 1.0% in the fourth quarter. TD Asset Management Inc now owns 408,070 shares of the technology company’s stock valued at $2,130,000 after buying an additional 4,047 shares during the last quarter. B.O.S.S. Retirement Advisors LLC purchased a new stake in Lumen Technologies in the fourth quarter valued at approximately $1,014,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Lumen Technologies by 8.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 752,765 shares of the technology company’s stock valued at $4,042,000 after buying an additional 57,654 shares during the last quarter. Savant Capital LLC boosted its position in Lumen Technologies by 50.9% in the fourth quarter. Savant Capital LLC now owns 19,778 shares of the technology company’s stock valued at $97,000 after buying an additional 6,671 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Lumen Technologies by 35.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,406,680 shares of the technology company’s stock valued at $17,783,000 after buying an additional 897,663 shares during the last quarter. Institutional investors and hedge funds own 76.03% of the company’s stock.

Lumen Technologies Trading Down 6.4 %

Shares of NYSE:LUMN opened at $2.35 on Friday. Lumen Technologies, Inc. has a 1 year low of $2.06 and a 1 year high of $12.54. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -1.42 and a beta of 1.01. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50 day moving average price is $2.42 and its 200-day moving average price is $4.14.

Lumen Technologies (NYSE:LUMN – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). Lumen Technologies had a negative net margin of 9.89% and a positive return on equity of 8.87%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was down 20.1% compared to the same quarter last year. On average, equities research analysts forecast that Lumen Technologies, Inc. will post 0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. TheStreet lowered Lumen Technologies from a “c” rating to a “d” rating in a research report on Tuesday, February 7th. Bank of America lowered their price objective on Lumen Technologies from $4.00 to $2.00 in a research report on Thursday, May 4th. Citigroup lowered Lumen Technologies from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $6.25 to $3.50 in a research report on Wednesday, February 8th. Morgan Stanley lowered their price objective on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating on the stock in a research report on Monday, March 13th. Finally, The Goldman Sachs Group lowered their price objective on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 8th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.11.

About Lumen Technologies

(Get Rating)

Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: Business and Mass Markets. Business segment provides products and services under four sales channels to enterprise and commercial customers.