M Holdings Securities Inc. purchased a new position in Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 15,423 shares of the technology company’s stock, valued at approximately $174,000.
A number of other institutional investors have also recently modified their holdings of LUMN. Renaissance Technologies LLC bought a new position in shares of Lumen Technologies during the fourth quarter valued at $24,161,000. C M Bidwell & Associates Ltd. bought a new position in Lumen Technologies in the fourth quarter valued at about $277,000. Gotham Asset Management LLC lifted its holdings in Lumen Technologies by 178.8% in the fourth quarter. Gotham Asset Management LLC now owns 323,206 shares of the technology company’s stock valued at $4,056,000 after acquiring an additional 207,273 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in shares of Lumen Technologies by 3.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 109,228 shares of the technology company’s stock worth $1,371,000 after buying an additional 3,557 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of Lumen Technologies by 10.5% in the fourth quarter. Blair William & Co. IL now owns 28,516 shares of the technology company’s stock worth $358,000 after buying an additional 2,714 shares during the period. 79.02% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on LUMN shares. TheStreet cut Lumen Technologies from a “b” rating to a “c” rating in a report on Monday, August 15th. JPMorgan Chase & Co. started coverage on Lumen Technologies in a research note on Friday, August 5th. They set an “underweight” rating and a $10.00 target price on the stock. Finally, Royal Bank of Canada boosted their price objective on Lumen Technologies from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Thursday, August 11th.
Lumen Technologies Stock Down 1.8 %
Lumen Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.36%. The ex-dividend date of this dividend was Monday, August 29th. Lumen Technologies’s dividend payout ratio is currently 51.55%.
About Lumen Technologies
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.
- Get a free copy of the StockNews.com research report on Lumen Technologies (LUMN)
- Kroger’s is Your One-Stop Consumer Staples Stock
- Adobe Perfects the Art of the Faceplant for Investors
- Tax Credits are the Incentives in the Inflation Reduction Act
- Stock Market: 3 Islands Of Strength In A Sea Of Red
- 3 Banks Worth Considering For Q4
Receive News & Ratings for Lumen Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumen Technologies and related companies with MarketBeat.com's FREE daily email newsletter.