Legal & General Group Plc Trims Stock Position in Lumen Technologies, Inc. $LUMN

Legal & General Group Plc decreased its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,124,786 shares of the technology company’s stock after selling 128,159 shares during the quarter. Legal & General Group Plc owned approximately 0.30% of Lumen Technologies worth $13,687,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in LUMN. Invesco Ltd. grew its stake in Lumen Technologies by 91.6% during the 1st quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company’s stock worth $40,285,000 after buying an additional 4,911,803 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Lumen Technologies by 8.5% during the second quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock worth $41,700,000 after acquiring an additional 748,185 shares during the last quarter. Nuveen LLC acquired a new position in shares of Lumen Technologies in the 1st quarter valued at $26,469,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Lumen Technologies by 19.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,613,499 shares of the technology company’s stock valued at $20,207,000 after purchasing an additional 757,082 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Lumen Technologies by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 3,218,230 shares of the technology company’s stock worth $12,615,000 after purchasing an additional 689,843 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $8.13 on Friday. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The stock has a 50 day simple moving average of $7.91 and a 200-day simple moving average of $5.66. The company has a market cap of $8.33 billion, a price-to-earnings ratio of -6.89 and a beta of 1.45. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $11.95.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The firm had revenue of $4.05 billion for the quarter. On average, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on LUMN. The Goldman Sachs Group lifted their price objective on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Royal Bank Of Canada upped their price objective on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research report on Friday, October 31st. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.72.

Lumen Technologies Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.