Dimensional Fund Advisors LP Sells 268,121 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Dimensional Fund Advisors LP reduced its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 11.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,063,057 shares of the technology company’s stock after selling 268,121 shares during the quarter. Dimensional Fund Advisors LP owned 0.20% of Lumen Technologies worth $2,265,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LUMN. Quadrature Capital Ltd acquired a new stake in Lumen Technologies during the 1st quarter worth approximately $468,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Lumen Technologies by 22.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,190,256 shares of the technology company’s stock valued at $3,198,000 after acquiring an additional 401,399 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Lumen Technologies by 247.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 1,143,468 shares of the technology company’s stock worth $1,784,000 after purchasing an additional 814,474 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Lumen Technologies by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 827,518 shares of the technology company’s stock worth $1,291,000 after purchasing an additional 36,559 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Lumen Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock valued at $187,673,000 after purchasing an additional 1,975,400 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on LUMN shares. The Goldman Sachs Group increased their price objective on Lumen Technologies from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Friday, October 4th. Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $1.75 to $4.00 in a report on Friday, August 16th. Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and increased their target price for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, Bank of America increased their price objective on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.09.

Lumen Technologies Stock Down 1.3 %

Lumen Technologies stock opened at $6.20 on Friday. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50-day moving average is $5.97 and its 200-day moving average is $2.96. The firm has a market capitalization of $6.30 billion, a PE ratio of -2.95 and a beta of 1.19. Lumen Technologies, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $7.83.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period last year, the firm earned $0.10 EPS. Lumen Technologies’s quarterly revenue was down 10.7% compared to the same quarter last year. Sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.18 earnings per share for the current year.

Insider Activity at Lumen Technologies

In related news, Director James Fowler bought 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the purchase, the director now owns 384,056 shares in the company, valued at $1,805,063.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.68% of the stock is owned by company insiders.

Lumen Technologies Profile

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.