Commonwealth Equity Services LLC Raises Position in Lumen Technologies, Inc. (NYSE:LUMN)

Posted by on Aug 3rd, 2022

Commonwealth Equity Services LLC increased its holdings in Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) by 0.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 544,463 shares of the technology company’s stock after buying an additional 2,194 shares during the period. Commonwealth Equity Services LLC owned 0.05% of Lumen Technologies worth $6,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LUMN. ACR Alpine Capital Research LLC increased its stake in Lumen Technologies by 33.1% in the first quarter. ACR Alpine Capital Research LLC now owns 13,933,431 shares of the technology company’s stock valued at $157,029,000 after acquiring an additional 3,466,092 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Lumen Technologies by 122.8% during the fourth quarter. American Century Companies Inc. now owns 4,198,196 shares of the technology company’s stock valued at $52,687,000 after buying an additional 2,313,960 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Lumen Technologies during the fourth quarter valued at about $24,161,000. Retirement Systems of Alabama grew its stake in shares of Lumen Technologies by 583.3% during the first quarter. Retirement Systems of Alabama now owns 2,086,426 shares of the technology company’s stock valued at $23,514,000 after buying an additional 1,781,084 shares during the last quarter. Finally, Foundation Resource Management Inc. grew its stake in shares of Lumen Technologies by 46.6% during the first quarter. Foundation Resource Management Inc. now owns 3,246,991 shares of the technology company’s stock valued at $36,594,000 after buying an additional 1,032,288 shares during the last quarter. Hedge funds and other institutional investors own 77.22% of the company’s stock.

Lumen Technologies Stock Down 2.4 %

Shares of NYSE:LUMN opened at $10.77 on Wednesday. The stock’s 50-day moving average price is $11.11 and its 200-day moving average price is $11.14. Lumen Technologies, Inc. has a 12-month low of $9.31 and a 12-month high of $14.49. The stock has a market capitalization of $11.13 billion, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 0.79 and a beta of 0.97. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 2.31.

Lumen Technologies (NYSE:LUMN – Get Rating) last posted its earnings results on Wednesday, May 4th. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.17. The company had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Lumen Technologies had a return on equity of 18.72% and a net margin of 11.16%. Lumen Technologies’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, equities analysts anticipate that Lumen Technologies, Inc. will post 1.72 earnings per share for the current year.

Lumen Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Tuesday, May 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $1.00 annualized dividend and a yield of 9.29%. Lumen Technologies’s dividend payout ratio (DPR) is presently 48.54%.

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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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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