Lumen Technologies, Inc. $LUMN Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,554,113 shares of the technology company’s stock after selling 158,487 shares during the period. First Trust Advisors LP owned approximately 1.81% of Lumen Technologies worth $81,267,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D increased its stake in Lumen Technologies by 9.8% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 490,480 shares of the technology company’s stock valued at $2,148,000 after purchasing an additional 43,711 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in Lumen Technologies in the second quarter valued at $169,000. Credit Capital Investments LLC increased its position in shares of Lumen Technologies by 150.0% in the second quarter. Credit Capital Investments LLC now owns 150,000 shares of the technology company’s stock valued at $657,000 after buying an additional 90,000 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Lumen Technologies by 10.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,099,473 shares of the technology company’s stock worth $4,816,000 after buying an additional 104,362 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Lumen Technologies in the 1st quarter valued at about $1,073,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LUMN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Royal Bank Of Canada increased their target price on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research report on Friday, October 31st. Finally, The Goldman Sachs Group upped their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and an average target price of $6.72.

Lumen Technologies Stock Performance

NYSE LUMN opened at $8.27 on Friday. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 59.98. The company has a market capitalization of $8.48 billion, a PE ratio of -5.01 and a beta of 1.42. The business’s 50-day moving average price is $8.20 and its 200 day moving average price is $5.82. Lumen Technologies, Inc. has a twelve month low of $3.01 and a twelve month high of $11.95.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The company had revenue of $4.05 billion during the quarter. On average, research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

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.