Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, Holdings Channel.com reports. The firm purchased 10,344 shares of the technology company’s stock, valued at approximately $101,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Lumen Technologies in the fourth quarter worth $25,000. Tradewinds Capital Management LLC bought a new stake in Lumen Technologies in the fourth quarter worth $26,000. Cypress Capital Management LLC WY bought a new stake in Lumen Technologies in the fourth quarter worth $27,000. AllSquare Wealth Management LLC bought a new stake in Lumen Technologies in the fourth quarter worth $27,000. Finally, CWM LLC bought a new stake in Lumen Technologies in the fourth quarter worth $30,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Virginia Boulet sold 6,500 shares of the stock in a transaction dated Tuesday, March 9th. The shares were sold at an average price of $14.22, for a total value of $92,430.00. Following the completion of the transaction, the director now owns 76,529 shares of the company’s stock, valued at $1,088,242.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.
Lumen Technologies (NYSE:LUMN) last released its earnings results on Wednesday, February 10th. The technology company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.16. Lumen Technologies had a net margin of 6.05% and a return on equity of 12.10%. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue was down 3.4% on a year-over-year basis. Research analysts forecast that Lumen Technologies, Inc. will post 1.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 19th. Investors of record on Monday, March 8th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.42%. The ex-dividend date was Friday, March 5th. Lumen Technologies’s dividend payout ratio (DPR) is presently 75.76%.
A number of brokerages recently issued reports on LUMN. Oppenheimer reiterated a “buy” rating and issued a $16.00 price objective on shares of Lumen Technologies in a report on Tuesday, February 9th. TheStreet cut shares of Lumen Technologies from a “b-” rating to a “c+” rating in a report on Wednesday, February 10th. Zacks Investment Research upgraded shares of Lumen Technologies from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, February 16th. Finally, Morgan Stanley cut shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating in a report on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Lumen Technologies has a consensus rating of “Hold” and an average target price of $11.87.
About Lumen Technologies
Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated services and solutions under CenturyLink name to business and residential customers in the United States and internationally. The company operates through five segments: International and Global Accounts Management, Enterprise, Small and Medium Business, Wholesale, and Consumer.
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