Mitsubishi UFJ Trust & Banking Corp Sells 454,527 Shares of Lumen Technologies, Inc. $LUMN

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 27.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,229,973 shares of the technology company’s stock after selling 454,527 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lumen Technologies were worth $7,527,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in LUMN. Front Street Capital Management Inc. boosted its stake in shares of Lumen Technologies by 1.1% in the 2nd quarter. Front Street Capital Management Inc. now owns 11,969,084 shares of the technology company’s stock worth $52,425,000 after buying an additional 132,131 shares during the last quarter. Man Group plc raised its stake in Lumen Technologies by 3.3% during the 2nd quarter. Man Group plc now owns 11,486,835 shares of the technology company’s stock worth $50,312,000 after acquiring an additional 364,436 shares during the period. Norges Bank purchased a new position in shares of Lumen Technologies during the 2nd quarter valued at $47,923,000. Invesco Ltd. lifted its position in shares of Lumen Technologies by 6.3% in the second quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock valued at $47,869,000 after acquiring an additional 652,124 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Lumen Technologies by 8.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock worth $41,700,000 after purchasing an additional 748,185 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Price Performance

Shares of LUMN stock opened at $9.19 on Thursday. Lumen Technologies, Inc. has a 1-year low of $3.01 and a 1-year high of $11.95. The company has a market cap of $9.42 billion, a P/E ratio of -5.57 and a beta of 1.46. The stock’s 50-day moving average is $8.19 and its 200 day moving average is $6.89.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Thursday, October 30th. The technology company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.11. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the business posted ($0.13) EPS. Lumen Technologies’s revenue was down 4.2% on a year-over-year basis. On average, analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

LUMN has been the topic of several research analyst reports. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Friday, October 31st. Zacks Research raised Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Royal Bank Of Canada upped their price target on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. The Goldman Sachs Group upped their price objective on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lumen Technologies currently has a consensus rating of “Hold” and an average price target of $6.72.

Lumen Technologies Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.