Lumen Technologies, Inc. (NYSE:LUMN) Stake Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 92.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 161,260 shares of the technology company’s stock after selling 1,916,048 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Lumen Technologies were worth $1,173,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new stake in Lumen Technologies in the 2nd quarter worth approximately $25,000. Private Trust Co. NA bought a new position in shares of Lumen Technologies during the 2nd quarter valued at $31,000. Parkside Financial Bank & Trust raised its holdings in shares of Lumen Technologies by 184.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,865 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,857 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Lumen Technologies during the 3rd quarter valued at $32,000. Finally, Sugarloaf Wealth Management LLC raised its holdings in shares of Lumen Technologies by 252.5% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 6,013 shares of the technology company’s stock valued at $44,000 after purchasing an additional 4,307 shares in the last quarter. 76.03% of the stock is currently owned by institutional investors.

Insider Transactions at Lumen Technologies

In other news, Director Steven T. Clontz purchased 5,000 shares of the company’s stock in a transaction on Tuesday, November 29th. The shares were purchased at an average cost of $5.34 per share, with a total value of $26,700.00. Following the completion of the transaction, the director now owns 340,029 shares of the company’s stock, valued at approximately $1,815,754.86. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Lumen Technologies news, Director Martha Helena Bejar purchased 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average cost of $6.36 per share, for a total transaction of $79,500.00. Following the completion of the purchase, the director now owns 101,430 shares of the company’s stock, valued at approximately $645,094.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven T. Clontz purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 29th. The stock was acquired at an average price of $5.34 per share, for a total transaction of $26,700.00. Following the completion of the purchase, the director now directly owns 340,029 shares of the company’s stock, valued at approximately $1,815,754.86. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,500 shares of company stock valued at $224,600 over the last 90 days. 0.76% of the stock is owned by corporate insiders.

Lumen Technologies Stock Up 3.8 %

Lumen Technologies stock opened at $5.22 on Friday. The stock has a market capitalization of $5.40 billion, a PE ratio of 2.61 and a beta of 0.99. Lumen Technologies, Inc. has a twelve month low of $4.96 and a twelve month high of $12.93. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.73. The company has a 50 day moving average of $5.53 and a 200-day moving average of $7.83.

Lumen Technologies (NYSE:LUMNGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The technology company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.22). The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.41 billion. Lumen Technologies had a return on equity of 13.58% and a net margin of 10.95%. On average, equities research analysts anticipate that Lumen Technologies, Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company downgraded shares of Lumen Technologies from an “overweight” rating to an “equal weight” rating and set a $8.00 price target on the stock. in a report on Wednesday, October 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $6.00 target price on shares of Lumen Technologies in a report on Tuesday, December 6th. Morgan Stanley decreased their price target on shares of Lumen Technologies from $9.50 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, October 24th. JPMorgan Chase & Co. decreased their price target on shares of Lumen Technologies from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, November 3rd. Finally, UBS Group decreased their target price on shares of Lumen Technologies from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Lumen Technologies has an average rating of “Hold” and an average price target of $7.00.

Lumen Technologies Profile

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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.

See Also

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

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