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

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 81.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 137,269 shares of the technology company’s stock after selling 607,848 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lumen Technologies were worth $1,054,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Lumen Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock worth $2,363,000 after buying an additional 26,305 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Lumen Technologies by 26.8% in the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock worth $1,066,000 after acquiring an additional 57,522 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Lumen Technologies by 11.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock worth $11,702,000 after acquiring an additional 300,328 shares in the last quarter. Cetera Investment Advisers grew its position in Lumen Technologies by 15.8% during the 2nd quarter. Cetera Investment Advisers now owns 119,673 shares of the technology company’s stock worth $524,000 after acquiring an additional 16,332 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Lumen Technologies by 6.3% during the 2nd quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock valued at $47,869,000 after purchasing an additional 652,124 shares in the last quarter. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Price Performance

LUMN stock opened at $6.70 on Friday. The company has a 50 day moving average price of $7.06 and a 200 day moving average price of $7.76. Lumen Technologies, Inc. has a fifty-two week low of $4.27 and a fifty-two week high of $11.95. The stock has a market capitalization of $6.91 billion, a PE ratio of -6.56 and a beta of 1.78.

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

Insider Activity

In other news, CEO Kathleen E. Johnson purchased 100,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average price of $6.13 per share, with a total value of $613,000.00. Following the completion of the purchase, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at $613,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LUMN. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Citigroup decreased their target price on Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Wells Fargo & Company lowered their target price on Lumen Technologies from $9.00 to $7.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 5th. UBS Group upped their price target on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Friday, July 17th. Nine investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $7.86.

About Lumen Technologies

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.