Yousif Capital Management LLC lifted its stake in Lumen Technologies, Inc. (NYSE:LUMN – Free Report) by 123.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 611,866 shares of the technology company’s stock after acquiring an additional 337,511 shares during the period. Yousif Capital Management LLC owned 0.06% of Lumen Technologies worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in LUMN. Vanguard Group Inc. lifted its stake in Lumen Technologies by 2.4% during the first quarter. Vanguard Group Inc. now owns 116,137,605 shares of the technology company’s stock valued at $1,308,871,000 after purchasing an additional 2,726,090 shares during the last quarter. State Street Corp lifted its stake in Lumen Technologies by 2.8% during the third quarter. State Street Corp now owns 61,929,635 shares of the technology company’s stock valued at $450,848,000 after purchasing an additional 1,711,464 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Lumen Technologies by 289.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 21,507,098 shares of the technology company’s stock valued at $112,267,000 after purchasing an additional 15,989,152 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lumen Technologies by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 20,703,388 shares of the technology company’s stock valued at $108,333,000 after acquiring an additional 193,711 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Lumen Technologies by 13.0% in the 4th quarter. First Trust Advisors LP now owns 17,817,368 shares of the technology company’s stock valued at $93,130,000 after acquiring an additional 2,051,682 shares in the last quarter. 71.26% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently commented on LUMN shares. Bank of America reduced their price target on shares of Lumen Technologies from $4.00 to $2.00 in a research report on Thursday, May 4th. Raymond James upgraded shares of Lumen Technologies from an “underperform” rating to a “market perform” rating in a research report on Tuesday, June 6th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Lumen Technologies currently has an average rating of “Hold” and an average target price of $5.11.
Lumen Technologies Trading Up 1.7 %
Lumen Technologies (NYSE:LUMN – Get Free Report) last announced its quarterly earnings results 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 positive return on equity of 8.87% and a negative net margin of 9.89%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter last year, the company earned $0.63 EPS. The business’s revenue for the quarter was down 20.1% compared to the same quarter last year. On average, analysts forecast that Lumen Technologies, Inc. will post 0.35 EPS for the current year.
Lumen Technologies Company Profile
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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