Massachusetts Financial Services Co. MA Buys 179,925 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Massachusetts Financial Services Co. MA increased its position in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 29.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 794,860 shares of the technology company’s stock after purchasing an additional 179,925 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.08% of Lumen Technologies worth $9,976,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Lumen Technologies by 114.1% during the 1st quarter. FMR LLC now owns 2,433,165 shares of the technology company’s stock valued at $29,174,000 after purchasing an additional 1,296,573 shares in the last quarter. Morgan Stanley grew its holdings in Lumen Technologies by 91.9% in the 2nd quarter. Morgan Stanley now owns 12,626,749 shares of the technology company’s stock valued at $171,598,000 after buying an additional 6,048,140 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Lumen Technologies by 1,735.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,514 shares of the technology company’s stock valued at $31,000 after buying an additional 2,377 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Lumen Technologies by 1.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,257,761 shares of the technology company’s stock valued at $15,584,000 after acquiring an additional 16,359 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in shares of Lumen Technologies by 20.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 148,323 shares of the technology company’s stock valued at $1,838,000 after acquiring an additional 25,583 shares during the period. Hedge funds and other institutional investors own 77.22% of the company’s stock.

Shares of NYSE LUMN opened at $11.89 on Wednesday. The stock has a market cap of $12.28 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. Lumen Technologies, Inc. has a fifty-two week low of $9.31 and a fifty-two week high of $15.45. The company has a debt-to-equity ratio of 2.31, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day moving average of $11.08 and a 200-day moving average of $11.83.

Lumen Technologies (NYSE:LUMNGet Rating) last issued its quarterly 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. Lumen Technologies had a return on equity of 18.72% and a net margin of 11.16%. The firm had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Lumen Technologies, Inc. will post 1.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Tuesday, March 8th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.41%. Lumen Technologies’s dividend payout ratio is presently 48.54%.

Several analysts recently weighed in on the company. Zacks Investment Research downgraded Lumen Technologies from a “hold” rating to a “strong sell” rating and set a $9.75 price objective for the company. in a research report on Tuesday, April 19th. TheStreet raised Lumen Technologies from a “c+” rating to a “b” rating in a research note on Friday, February 11th. Finally, Moffett Nathanson decreased their target price on Lumen Technologies from $10.00 to $8.00 in a research note on Wednesday, February 16th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.44.

Lumen Technologies Company Profile (Get Rating)

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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