AGF Investments LLC Makes New Investment in Lumen Technologies, Inc. (NYSE:LUMN)

AGF Investments LLC acquired a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 3rd quarter, Holdings Channel reports. The fund acquired 54,212 shares of the technology company’s stock, valued at approximately $672,000.

Several other hedge funds have also recently bought and sold shares of LUMN. Morgan Stanley boosted its position in shares of Lumen Technologies by 91.9% during the second quarter. Morgan Stanley now owns 12,626,749 shares of the technology company’s stock worth $171,598,000 after buying an additional 6,048,140 shares during the period. UBS Asset Management Americas Inc. acquired a new position in shares of Lumen Technologies during the second quarter worth about $57,037,000. Amundi acquired a new position in shares of Lumen Technologies during the second quarter worth about $33,956,000. Invesco Ltd. boosted its position in shares of Lumen Technologies by 12.2% during the second quarter. Invesco Ltd. now owns 20,210,102 shares of the technology company’s stock worth $274,654,000 after buying an additional 2,199,489 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Lumen Technologies by 1,910.0% during the third quarter. Allianz Asset Management GmbH now owns 2,182,803 shares of the technology company’s stock worth $27,045,000 after buying an additional 2,074,205 shares during the period. 79.46% of the stock is owned by institutional investors.

Separately, Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and set a $13.00 price target for the company in a research report on Thursday, November 4th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Shares of NYSE LUMN opened at $12.34 on Friday. The stock has a 50 day moving average price of $12.96 and a 200 day moving average price of $12.69. Lumen Technologies, Inc. has a 52 week low of $10.86 and a 52 week high of $16.60. The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $12.63 billion, a PE ratio of -17.38, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Wednesday, November 3rd. The technology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.38 by $0.11. Lumen Technologies had a positive return on equity of 17.98% and a negative net margin of 3.83%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. As a group, research analysts forecast that Lumen Technologies, Inc. will post 1.95 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Monday, November 29th were given a $0.25 dividend. The ex-dividend date was Friday, November 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.10%. Lumen Technologies’s payout ratio is -140.85%.

In other news, EVP Stacey W. Goff sold 128,616 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $14.16, for a total value of $1,821,202.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Lumen Technologies Company Profile

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: International and Global Accounts Management, Enterprise, Small and Medium Business, Wholesale, and Consumer.

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

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