Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its position in Lumen Technologies, Inc. (NYSE:LUMN) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,811,812 shares of the technology company’s stock after selling 1,245,966 shares during the period. Charles Schwab Investment Management Inc. owned about 3.04% of Lumen Technologies worth $218,764,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC boosted its holdings in Lumen Technologies by 203.7% in the 3rd quarter. Intech Investment Management LLC now owns 404,207 shares of the technology company’s stock valued at $2,870,000 after purchasing an additional 271,118 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Lumen Technologies by 9.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,265,415 shares of the technology company’s stock valued at $23,184,000 after buying an additional 294,679 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Lumen Technologies in the third quarter worth $87,000. Avior Wealth Management LLC lifted its holdings in Lumen Technologies by 26.1% in the third quarter. Avior Wealth Management LLC now owns 39,188 shares of the technology company’s stock valued at $278,000 after acquiring an additional 8,120 shares during the period. Finally, Pathstone Holdings LLC boosted its position in shares of Lumen Technologies by 7.0% during the 3rd quarter. Pathstone Holdings LLC now owns 442,441 shares of the technology company’s stock worth $3,141,000 after purchasing an additional 29,091 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lumen Technologies

In other news, Director James Fowler bought 10,000 shares of Lumen Technologies stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the acquisition, the director now owns 384,056 shares of the company’s stock, valued at $1,805,063.20. The trade was a 2.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.68% of the company’s stock.

Lumen Technologies Stock Up 0.4 %

Shares of NYSE LUMN opened at $7.88 on Friday. The firm’s 50 day moving average price is $7.15 and its 200 day moving average price is $4.25. The company has a debt-to-equity ratio of 53.05, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $8.00 billion, a P/E ratio of -3.63 and a beta of 1.21. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the prior year, the firm earned ($0.09) EPS. Lumen Technologies’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

LUMN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Bank of America lifted their price objective on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a report on Thursday, August 8th. UBS Group raised their price target on Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $1.75 to $4.00 in a report on Friday, August 16th. Finally, Citigroup raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $1.25 to $3.15 in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.02.

Lumen Technologies Company 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.