IFM Investors Pty Ltd lifted its stake in Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 24.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,394 shares of the technology company's stock after buying an additional 30,444 shares during the period. IFM Investors Pty Ltd's holdings in Lumen Technologies were worth $1,774,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. DNB Asset Management AS raised its holdings in shares of Lumen Technologies by 9.7% in the 1st quarter. DNB Asset Management AS now owns 471,039 shares of the technology company's stock worth $5,309,000 after buying an additional 41,771 shares in the last quarter. National Asset Management Inc. increased its holdings in Lumen Technologies by 26.7% during the 1st quarter. National Asset Management Inc. now owns 70,427 shares of the technology company's stock valued at $794,000 after purchasing an additional 14,863 shares in the last quarter. First Republic Investment Management Inc. increased its holdings in Lumen Technologies by 3.8% during the 4th quarter. First Republic Investment Management Inc. now owns 170,319 shares of the technology company's stock valued at $2,138,000 after purchasing an additional 6,226 shares in the last quarter. Eaton Vance Management increased its holdings in Lumen Technologies by 355.1% during the 4th quarter. Eaton Vance Management now owns 358,850 shares of the technology company's stock valued at $4,052,000 after purchasing an additional 279,996 shares in the last quarter. Finally, CapWealth Advisors LLC increased its holdings in Lumen Technologies by 3.4% during the 1st quarter. CapWealth Advisors LLC now owns 1,867,088 shares of the technology company's stock valued at $21,042,000 after purchasing an additional 61,502 shares in the last quarter. 77.22% of the stock is owned by institutional investors and hedge funds.
Get Lumen Technologies alerts:Lumen Technologies Stock Down 1.5 %
NYSE LUMN opened at $10.68 on Friday. The stock has a fifty day moving average of $11.02 and a 200-day moving average of $11.11. The stock has a market capitalization of $11.06 billion, a P/E ratio of 5.51, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97. Lumen Technologies, Inc. has a 52 week low of $9.31 and a 52 week high of $14.49. The company has a debt-to-equity ratio of 2.29, a quick ratio of 2.08 and a current ratio of 2.04.
Lumen Technologies (NYSE:LUMN – Get Rating) last released its earnings results on Wednesday, May 4th. The technology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.46 by $0.17. The company had revenue of $4.68 billion during the quarter, compared to analysts' expectations of $4.68 billion. Lumen Technologies had a return on equity of 17.14% and a net margin of 10.49%. The business's revenue for the quarter was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.44 EPS. On average, equities research analysts forecast that Lumen Technologies, Inc. will post 1.7 EPS for the current year.Lumen Technologies Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 9.36%. Lumen Technologies's dividend payout ratio is currently 51.55%.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. started coverage on Lumen Technologies in a report on Friday. They set an "underweight" rating and a $10.00 price target for the company.
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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