AGF Investments LLC Acquires New Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

AGF Investments LLC acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 54,212 shares of the technology company’s stock, valued at approximately $672,000.

Other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its position in Lumen Technologies by 11.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 646,270 shares of the technology company’s stock worth $8,783,000 after buying an additional 65,058 shares during the period. DekaBank Deutsche Girozentrale increased its position in Lumen Technologies by 8.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 96,980 shares of the technology company’s stock worth $1,277,000 after buying an additional 7,892 shares during the period. M&G Investment Management Ltd. increased its position in Lumen Technologies by 18.3% in the 3rd quarter. M&G Investment Management Ltd. now owns 1,348,184 shares of the technology company’s stock worth $16,178,000 after buying an additional 208,998 shares during the period. Mirova increased its position in Lumen Technologies by 3.0% in the 2nd quarter. Mirova now owns 160,117 shares of the technology company’s stock worth $2,175,000 after buying an additional 4,725 shares during the period. Finally, Ensign Peak Advisors Inc increased its position in Lumen Technologies by 20.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 2,256,501 shares of the technology company’s stock worth $30,666,000 after buying an additional 378,175 shares during the period. 79.46% of the stock is currently owned by institutional investors and hedge funds.

LUMN opened at $12.34 on Friday. The stock has a market cap of $12.63 billion, a PE ratio of -17.38, a P/E/G ratio of 1.01 and a beta of 0.97. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 2.44. Lumen Technologies, Inc. has a 1 year low of $10.86 and a 1 year high of $16.60. The stock’s 50 day simple moving average is $12.96 and its 200-day simple moving average is $12.69.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings data on Wednesday, November 3rd. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Lumen Technologies had a positive return on equity of 17.98% and a negative net margin of 3.83%. During the same period in the previous year, the business posted $0.40 earnings per share. Equities analysts forecast that Lumen Technologies, Inc. will post 1.95 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Monday, November 29th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.10%. The ex-dividend date of this dividend was Friday, November 26th. Lumen Technologies’s dividend payout ratio is -140.85%.

Separately, Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research report on Thursday, November 4th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, Lumen Technologies has an average rating of “Hold” and an average price target of $13.50.

In related news, EVP Stacey W. Goff sold 128,616 shares of the business’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $14.16, for a total value of $1,821,202.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.60% of the stock is owned by insiders.

About Lumen Technologies

Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: International and Global Accounts Management, Enterprise, Small and Medium Business, Wholesale, and Consumer.

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

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