Mitsubishi UFJ Trust & Banking Corp Has $1.05 Million Stock Position in Lumen Technologies, Inc. $LUMN

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 81.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,269 shares of the technology company’s stock after selling 607,848 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lumen Technologies were worth $1,054,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Crossmark Global Holdings Inc. increased its holdings in shares of Lumen Technologies by 2.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 61,599 shares of the technology company’s stock worth $479,000 after purchasing an additional 1,230 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Lumen Technologies by 1.7% in the first quarter. Lazard Asset Management LLC now owns 78,690 shares of the technology company’s stock valued at $547,000 after buying an additional 1,294 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in shares of Lumen Technologies by 4.6% in the first quarter. Fifth Third Wealth Advisors LLC now owns 31,875 shares of the technology company’s stock valued at $222,000 after buying an additional 1,393 shares during the period. Oppenheimer Asset Management Inc. grew its position in Lumen Technologies by 7.3% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 20,821 shares of the technology company’s stock worth $162,000 after buying an additional 1,417 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in Lumen Technologies by 13.6% during the first quarter. Citizens Financial Group Inc. RI now owns 12,174 shares of the technology company’s stock worth $85,000 after buying an additional 1,457 shares in the last quarter. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Up 4.6%

NYSE LUMN opened at $6.70 on Friday. Lumen Technologies, Inc. has a twelve month low of $4.27 and a twelve month high of $11.95. The stock has a market cap of $6.91 billion, a P/E ratio of -6.56 and a beta of 1.78. The company’s 50-day simple moving average is $7.06 and its 200 day simple moving average is $7.76.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.74 billion. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) EPS. Research analysts anticipate that Lumen Technologies, Inc. will post -0.42 earnings per share for the current year.

Insider Activity at Lumen Technologies

In related news, CEO Kathleen E. Johnson bought 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $6.13 per share, for a total transaction of $613,000.00. Following the transaction, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at $613,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on LUMN. TD Cowen upped their price target on Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. UBS Group lifted their price objective on Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Zacks Research cut Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. upped their target price on Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $7.86.

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.