Vanguard Group Inc. Has $216.54 Million Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Vanguard Group Inc. lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,327,820 shares of the technology company’s stock after acquiring an additional 927,331 shares during the quarter. Vanguard Group Inc. owned about 11.72% of Lumen Technologies worth $216,540,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LUMN. Guardian Capital LP raised its holdings in Lumen Technologies by 53.5% in the 4th quarter. Guardian Capital LP now owns 22,145 shares of the technology company’s stock worth $41,000 after acquiring an additional 7,717 shares during the period. ORG Partners LLC increased its stake in shares of Lumen Technologies by 54.0% in the fourth quarter. ORG Partners LLC now owns 22,580 shares of the technology company’s stock worth $41,000 after purchasing an additional 7,920 shares during the period. Compagnie Lombard Odier SCmA boosted its stake in Lumen Technologies by 36.4% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 30,000 shares of the technology company’s stock valued at $55,000 after purchasing an additional 8,000 shares during the period. Belpointe Asset Management LLC increased its position in Lumen Technologies by 52.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 24,527 shares of the technology company’s stock worth $35,000 after buying an additional 8,405 shares during the period. Finally, Triumph Capital Management lifted its holdings in shares of Lumen Technologies by 4.2% during the fourth quarter. Triumph Capital Management now owns 221,410 shares of the technology company’s stock worth $405,000 after buying an additional 8,867 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, The Goldman Sachs Group initiated coverage on shares of Lumen Technologies in a report on Monday. They issued a “sell” rating and a $1.00 price target for the company.

Insider Transactions at Lumen Technologies

In related news, CEO Kathleen E. Johnson purchased 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were bought at an average price of $1.28 per share, for a total transaction of $960,000.00. Following the completion of the transaction, the chief executive officer now owns 7,756,290 shares of the company’s stock, valued at $9,928,051.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.68% of the company’s stock.

Lumen Technologies Price Performance

NYSE:LUMN opened at $1.10 on Tuesday. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -0.10 and a beta of 1.15. The company has a debt-to-equity ratio of 36.89, a quick ratio of 1.03 and a current ratio of 1.03. Lumen Technologies, Inc. has a 52 week low of $0.78 and a 52 week high of $2.34. The company has a 50-day moving average of $1.23 and a 200-day moving average of $1.44.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, April 30th. The technology company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Lumen Technologies had a positive return on equity of 4.06% and a negative net margin of 76.21%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.16 earnings per share for the current fiscal 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.