Lumen Technologies, Inc. (NYSE:LUMN) Position Boosted by Strs Ohio

Strs Ohio boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 50.9% in the 4th quarter, Holdings Channel reports. The firm owned 179,900 shares of the technology company’s stock after buying an additional 60,700 shares during the period. Strs Ohio’s holdings in Lumen Technologies were worth $329,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LUMN. Vanguard Group Inc. increased its stake in Lumen Technologies by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 117,400,489 shares of the technology company’s stock worth $166,709,000 after purchasing an additional 2,404,674 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Lumen Technologies by 16.0% in the third quarter. Invesco Ltd. now owns 22,272,831 shares of the technology company’s stock worth $31,627,000 after buying an additional 3,071,405 shares during the period. Hsbc Holdings PLC increased its position in shares of Lumen Technologies by 20.6% in the third quarter. Hsbc Holdings PLC now owns 21,698,150 shares of the technology company’s stock worth $31,344,000 after acquiring an additional 3,713,167 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Lumen Technologies by 34.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,521,752 shares of the technology company’s stock valued at $29,141,000 after acquiring an additional 5,239,967 shares in the last quarter. Finally, Palestra Capital Management LLC boosted its stake in Lumen Technologies by 788.4% in the 3rd quarter. Palestra Capital Management LLC now owns 6,530,000 shares of the technology company’s stock worth $9,273,000 after purchasing an additional 5,795,000 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $1.23 on Tuesday. The company’s fifty day moving average is $1.51 and its two-hundred day moving average is $1.48. The company has a market cap of $1.24 billion, a P/E ratio of -0.12 and a beta of 1.10. Lumen Technologies, Inc. has a 12-month low of $0.78 and a 12-month high of $2.70. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 47.56.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.11. Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the firm earned $0.43 earnings per share. Lumen Technologies’s quarterly revenue was down 7.4% on a year-over-year basis. Equities analysts expect that Lumen Technologies, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director T Michael Glenn bought 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was bought at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the transaction, the director now directly owns 272,019 shares in the company, valued at $399,867.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director T Michael Glenn bought 50,000 shares of the stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the purchase, the director now directly owns 272,019 shares of the company’s stock, valued at approximately $399,867.93. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director James Fowler purchased 30,000 shares of Lumen Technologies stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $1.50 per share, with a total value of $45,000.00. Following the completion of the acquisition, the director now owns 183,038 shares in the company, valued at $274,557. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 113,500 shares of company stock worth $174,780. 1.68% of the stock is owned by company insiders.

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.