Lumen Technologies, Inc. $LUMN Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 23.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,400,164 shares of the technology company’s stock after selling 5,273,607 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.70% of Lumen Technologies worth $76,213,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LUMN. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Lumen Technologies during the 1st quarter worth approximately $551,000. AE Wealth Management LLC purchased a new position in shares of Lumen Technologies in the first quarter valued at $91,000. Cetera Investment Advisers grew its holdings in Lumen Technologies by 18.0% during the 1st quarter. Cetera Investment Advisers now owns 103,341 shares of the technology company’s stock valued at $405,000 after purchasing an additional 15,793 shares in the last quarter. HB Wealth Management LLC increased its stake in Lumen Technologies by 23.6% during the 1st quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company’s stock worth $54,000 after buying an additional 2,619 shares during the period. Finally, LPL Financial LLC lifted its holdings in Lumen Technologies by 1.0% in the 1st quarter. LPL Financial LLC now owns 380,016 shares of the technology company’s stock worth $1,490,000 after buying an additional 3,927 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Trading Up 0.4%

NYSE:LUMN opened at $8.13 on Friday. The company has a market cap of $8.33 billion, a PE ratio of -6.89 and a beta of 1.45. The business’s 50 day moving average is $7.91 and its two-hundred day moving average is $5.66. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 52 week low of $3.01 and a 52 week high of $11.95.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. The business had revenue of $4.05 billion for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%. On average, analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LUMN. Citigroup downgraded Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research note on Friday, October 31st. Royal Bank Of Canada raised their price objective on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. The Goldman Sachs Group lifted their price objective on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lumen Technologies has a consensus rating of “Hold” and a consensus target price of $6.72.

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.