SFE Investment Counsel Grows Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

SFE Investment Counsel lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 273.1% in the second quarter, Holdings Channel reports. The firm owned 188,925 shares of the technology company’s stock after buying an additional 138,285 shares during the period. SFE Investment Counsel’s holdings in Lumen Technologies were worth $2,567,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LUMN. FMR LLC increased its stake in shares of Lumen Technologies by 114.1% during the first quarter. FMR LLC now owns 2,433,165 shares of the technology company’s stock worth $29,174,000 after purchasing an additional 1,296,573 shares in the last quarter. US Bancorp DE increased its stake in shares of Lumen Technologies by 2.0% during the first quarter. US Bancorp DE now owns 49,340 shares of the technology company’s stock worth $659,000 after purchasing an additional 977 shares in the last quarter. Signaturefd LLC increased its stake in shares of Lumen Technologies by 84.8% during the first quarter. Signaturefd LLC now owns 6,504 shares of the technology company’s stock worth $87,000 after purchasing an additional 2,984 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in shares of Lumen Technologies during the first quarter worth about $165,000. Finally, Daiwa Securities Group Inc. grew its stake in Lumen Technologies by 3.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 47,892 shares of the technology company’s stock valued at $639,000 after acquiring an additional 1,482 shares in the last quarter. 75.50% of the stock is owned by institutional investors and hedge funds.

Several analysts recently issued reports on LUMN shares. Zacks Investment Research raised shares of Lumen Technologies from a “sell” rating to a “hold” rating and set a $14.00 price objective for the company in a research note on Thursday, August 5th. Morgan Stanley decreased their target price on shares of Lumen Technologies from $12.10 to $11.00 and set an “underweight” rating on the stock in a report on Monday, August 23rd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, May 26th.

Shares of LUMN traded up $0.05 during mid-day trading on Wednesday, hitting $12.55. The company had a trading volume of 179,199 shares, compared to its average volume of 11,875,833. The stock has a market cap of $13.87 billion, a PE ratio of -14.20 and a beta of 1.05. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.44. Lumen Technologies, Inc. has a 1-year low of $8.51 and a 1-year high of $16.60. The business’s 50-day simple moving average is $12.40 and its 200-day simple moving average is $13.27.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, August 3rd. The technology company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $5 billion. Lumen Technologies had a negative net margin of 4.65% and a positive return on equity of 16.28%. On average, sell-side analysts expect that Lumen Technologies, Inc. will post 1.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Monday, August 30th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 27th. This represents a $1.00 annualized dividend and a dividend yield of 7.97%. Lumen Technologies’s dividend payout ratio is currently 59.88%.

In other Lumen Technologies news, Director Steven T. Clontz purchased 5,000 shares of the business’s stock in a transaction on Monday, August 23rd. The stock was bought at an average cost of $11.98 per share, with a total value of $59,900.00. Following the acquisition, the director now owns 297,515 shares of the company’s stock, valued at $3,564,229.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

About Lumen Technologies

Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: International and Global Accounts Management, Enterprise, Small and Medium Business, Wholesale, and Consumer.

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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