Lee Danner & Bass Inc. decreased its position in shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 932,972 shares of the technology company's stock after selling 4,000 shares during the period. Lumen Technologies accounts for approximately 1.0% of Lee Danner & Bass Inc.'s portfolio, making the stock its 24th largest holding. Lee Danner & Bass Inc.'s holdings in Lumen Technologies were worth $10,179,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of LUMN. Vanguard Group Inc. raised its stake in Lumen Technologies by 2.4% during the first quarter. Vanguard Group Inc. now owns 116,137,605 shares of the technology company's stock worth $1,308,871,000 after purchasing an additional 2,726,090 shares during the period. BlackRock Inc. raised its stake in Lumen Technologies by 2.4% during the first quarter. BlackRock Inc. now owns 97,635,941 shares of the technology company's stock worth $1,100,357,000 after purchasing an additional 2,332,996 shares during the period. Dimensional Fund Advisors LP raised its stake in Lumen Technologies by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 19,521,559 shares of the technology company's stock worth $220,024,000 after purchasing an additional 417,651 shares during the period. Invesco Ltd. raised its stake in Lumen Technologies by 24.1% during the first quarter. Invesco Ltd. now owns 15,016,053 shares of the technology company's stock worth $169,230,000 after purchasing an additional 2,919,199 shares during the period. Finally, ACR Alpine Capital Research LLC raised its stake in Lumen Technologies by 33.1% during the first quarter. ACR Alpine Capital Research LLC now owns 13,933,431 shares of the technology company's stock worth $157,029,000 after purchasing an additional 3,466,092 shares during the period. Hedge funds and other institutional investors own 79.02% of the company's stock.
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Analysts Set New Price Targets
A number of equities analysts have weighed in on LUMN shares. Royal Bank of Canada increased their price target on shares of Lumen Technologies from $10.00 to $11.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 11th. Wells Fargo & Company lowered shares of Lumen Technologies from an "overweight" rating to an "equal weight" rating and set a $8.00 price objective for the company. in a research report on Wednesday. JPMorgan Chase & Co. started coverage on shares of Lumen Technologies in a report on Friday, August 5th. They set an "underweight" rating and a $10.00 price target for the company. TheStreet downgraded shares of Lumen Technologies from a "b" rating to a "c" rating in a research note on Monday, August 15th. Finally, Moffett Nathanson reduced their price objective on shares of Lumen Technologies to $6.00 in a research note on Thursday, September 29th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $9.60.
Lumen Technologies Trading Down 9.8 %
Shares of Lumen Technologies stock traded down $0.79 during trading on Wednesday, hitting $7.25. The stock had a trading volume of 280,351 shares, compared to its average volume of 19,177,774. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 2.29. The company has a market capitalization of $7.51 billion, a PE ratio of 3.77 and a beta of 1.08. The stock has a 50 day simple moving average of $9.86 and a 200 day simple moving average of $10.69. Lumen Technologies, Inc. has a 1 year low of $7.27 and a 1 year high of $14.49.
Lumen Technologies (NYSE:LUMN – Get Rating) last posted its earnings results on Wednesday, August 3rd. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.11). The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.60 billion. Lumen Technologies had a net margin of 10.49% and a return on equity of 17.14%. On average, research analysts expect that Lumen Technologies, Inc. will post 1.56 EPS for the current fiscal year.
Lumen Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Tuesday, August 30th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.79%. The ex-dividend date was Monday, August 29th. Lumen Technologies's dividend payout ratio is 51.55%.
Lumen Technologies Company Profile
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Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.
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