Lumen Technologies, Inc. $LUMN Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 3.9% in 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’s holdings in Lumen Technologies were worth $13,687,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of LUMN. HB Wealth Management LLC raised its stake in shares of Lumen Technologies by 23.6% during the 1st quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company’s stock worth $54,000 after buying an additional 2,619 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock valued at $26,000 after purchasing an additional 3,391 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Lumen Technologies by 5.1% in the first quarter. Natixis Advisors LLC now owns 70,630 shares of the technology company’s stock valued at $277,000 after purchasing an additional 3,426 shares in the last quarter. LPL Financial LLC grew its position in shares of Lumen Technologies by 1.0% in the first quarter. LPL Financial LLC now owns 380,016 shares of the technology company’s stock valued at $1,490,000 after purchasing an additional 3,927 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Lumen Technologies by 60.8% during the 1st quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock worth $43,000 after purchasing an additional 4,102 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LUMN shares. Royal Bank Of Canada upped their target price 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Citigroup downgraded shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research note on Friday, October 31st. The Goldman Sachs Group upped their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.72.

Lumen Technologies Stock Up 0.4%

Shares of NYSE:LUMN 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 firm has a market cap of $8.33 billion, a price-to-earnings ratio of -6.89 and a beta of 1.45. The stock’s 50-day moving average price is $7.91 and its two-hundred day moving average price is $5.66. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $11.95.

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

About Lumen Technologies

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.