Lumen Technologies, Inc. (NYSE:LUMN) Stake Reduced by DekaBank Deutsche Girozentrale

Posted by on Apr 23rd, 2023

DekaBank Deutsche Girozentrale reduced its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,565 shares of the technology company’s stock after selling 14,475 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Lumen Technologies were worth $880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Lumen Technologies by 7.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 106,727 shares of the technology company’s stock valued at $1,203,000 after purchasing an additional 7,501 shares during the period. D.A. Davidson & CO. grew its holdings in Lumen Technologies by 11.2% during the first quarter. D.A. Davidson & CO. now owns 18,167 shares of the technology company’s stock worth $205,000 after acquiring an additional 1,837 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Lumen Technologies during the first quarter worth about $1,037,000. MetLife Investment Management LLC grew its holdings in Lumen Technologies by 24.1% during the first quarter. MetLife Investment Management LLC now owns 252,689 shares of the technology company’s stock worth $2,848,000 after acquiring an additional 49,091 shares during the period. Finally, Rhumbline Advisers grew its holdings in Lumen Technologies by 2.9% during the first quarter. Rhumbline Advisers now owns 1,567,942 shares of the technology company’s stock worth $17,671,000 after acquiring an additional 44,169 shares during the period. Institutional investors own 76.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on Lumen Technologies from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, February 8th. Citigroup lowered Lumen Technologies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $6.25 to $3.50 in a report on Wednesday, February 8th. TheStreet lowered Lumen Technologies from a “c” rating to a “d” rating in a research report on Tuesday, February 7th. Finally, Morgan Stanley decreased their price target on Lumen Technologies from $6.00 to $2.50 and set an “underweight” rating for the company in a research report on Monday, March 13th. 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 company currently has a consensus rating of “Hold” and a consensus target price of $5.50.

Lumen Technologies Trading Up 2.3 %

Shares of NYSE LUMN opened at $2.23 on Friday. Lumen Technologies, Inc. has a one year low of $2.06 and a one year high of $12.54. The firm has a market capitalization of $2.23 billion, a PE ratio of -1.41 and a beta of 1.01. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average price of $2.86 and a two-hundred day moving average price of $4.78.

Lumen Technologies (NYSE:LUMN – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.31. Lumen Technologies had a positive return on equity of 13.17% and a negative net margin of 8.86%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company posted $0.51 EPS. The business’s quarterly revenue was down 21.6% compared to the same quarter last year. As a group, analysts predict that Lumen Technologies, Inc. will post 0.37 earnings per share for the current fiscal year.

Lumen Technologies Profile

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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.

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

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