Mitsubishi UFJ Trust & Banking Corp Trims Position in Lumen Technologies, Inc. $LUMN

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 35.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 795,914 shares of the technology company’s stock after selling 434,059 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lumen Technologies were worth $6,184,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in LUMN. Vanguard Group Inc. grew its holdings in shares of Lumen Technologies by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after acquiring an additional 1,295,177 shares during the period. Front Street Capital Management Inc. grew its holdings in shares of Lumen Technologies by 1.1% during the 2nd quarter. Front Street Capital Management Inc. now owns 11,969,084 shares of the technology company’s stock worth $52,425,000 after acquiring an additional 132,131 shares during the period. Man Group plc grew its holdings in shares of Lumen Technologies by 3.3% during the 2nd quarter. Man Group plc now owns 11,486,835 shares of the technology company’s stock worth $50,312,000 after acquiring an additional 364,436 shares during the period. Invesco Ltd. grew its holdings in shares of Lumen Technologies by 6.3% during the 2nd quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock worth $47,869,000 after acquiring an additional 652,124 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in shares of Lumen Technologies by 5.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 10,056,824 shares of the technology company’s stock worth $61,548,000 after acquiring an additional 536,324 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LUMN. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday. Citigroup decreased their target price on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group raised their target price on shares of Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.25.

Insider Activity

In other Lumen Technologies news, CEO Kathleen E. Johnson acquired 78,685 shares of Lumen Technologies stock in a transaction that occurred on Thursday, February 5th. The stock was bought at an average cost of $6.35 per share, for a total transaction of $499,649.75. Following the acquisition, the chief executive officer owned 8,562,582 shares of the company’s stock, valued at $54,372,395.70. This represents a 0.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Diankha Linear sold 45,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $7.89, for a total value of $355,050.00. Following the completion of the transaction, the director owned 198,229 shares in the company, valued at approximately $1,564,026.81. This trade represents a 18.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.30% of the stock is currently owned by company insiders.

Lumen Technologies Stock Performance

NYSE LUMN opened at $9.30 on Friday. Lumen Technologies, Inc. has a one year low of $3.37 and a one year high of $11.95. The stock has a 50-day moving average of $7.38 and a 200 day moving average of $8.01. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of -5.34 and a beta of 1.65.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.44. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the business posted $0.09 earnings per share. Lumen Technologies’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.09 earnings per share for the current fiscal year.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.