KBC Group NV lifted its position in Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 86.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,521 shares of the technology company's stock after purchasing an additional 90,551 shares during the quarter. KBC Group NV's holdings in Lumen Technologies were worth $2,204,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in Lumen Technologies during the 4th quarter valued at approximately $2,515,000. Yousif Capital Management LLC purchased a new stake in Lumen Technologies during the 4th quarter valued at approximately $2,643,000. CWM LLC purchased a new stake in Lumen Technologies during the 4th quarter valued at approximately $258,000. Xponance Inc. raised its stake in Lumen Technologies by 15.6% during the 4th quarter. Xponance Inc. now owns 58,728 shares of the technology company's stock valued at $737,000 after acquiring an additional 7,924 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in Lumen Technologies by 57.3% during the 4th quarter. Ieq Capital LLC now owns 15,943 shares of the technology company's stock valued at $200,000 after acquiring an additional 5,805 shares during the last quarter. 77.22% of the stock is owned by institutional investors and hedge funds.
Get Lumen Technologies alerts:Analyst Ratings Changes
Separately, JPMorgan Chase & Co. assumed coverage on Lumen Technologies in a research note on Friday. They set an "underweight" rating and a $10.00 price objective for the company.
Lumen Technologies Stock Performance
Shares of LUMN stock opened at $10.68 on Friday. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 5.51, a price-to-earnings-growth ratio of 0.80 and a beta of 0.97. The stock has a 50 day simple moving average of $11.02 and a 200-day simple moving average of $11.11. Lumen Technologies, Inc. has a 12-month low of $9.31 and a 12-month high of $14.49. The company has a current ratio of 2.04, a quick ratio of 2.08 and a debt-to-equity ratio of 2.29.Lumen Technologies (NYSE:LUMN – Get Rating) last issued its earnings results on Wednesday, May 4th. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.17. The business had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.68 billion. Lumen Technologies had a return on equity of 17.14% and a net margin of 10.49%. The company's revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 EPS. On average, equities analysts forecast that Lumen Technologies, Inc. will post 1.7 EPS for the current year.
Lumen Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 31st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.36%. The ex-dividend date was Friday, May 27th. Lumen Technologies's dividend payout ratio (DPR) is 51.55%.
About Lumen Technologies
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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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