Mitsubishi UFJ Trust & Banking Corp Sells 987,059 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 24.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,101,395 shares of the technology company’s stock after selling 987,059 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.31% of Lumen Technologies worth $16,468,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Los Angeles Capital Management LLC lifted its holdings in shares of Lumen Technologies by 20.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock worth $78,000 after purchasing an additional 2,489 shares during the period. Avior Wealth Management LLC lifted its holdings in Lumen Technologies by 6.8% during the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock worth $222,000 after buying an additional 2,657 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Lumen Technologies by 15.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock worth $111,000 after buying an additional 2,844 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Lumen Technologies by 8.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock valued at $207,000 after buying an additional 3,109 shares during the period. Finally, Ballentine Partners LLC raised its position in shares of Lumen Technologies by 14.8% during the fourth quarter. Ballentine Partners LLC now owns 30,074 shares of the technology company’s stock worth $160,000 after acquiring an additional 3,868 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective on the stock in a research note on Friday, February 21st. Finally, Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.59.

Lumen Technologies Stock Down 3.8 %

Shares of NYSE LUMN opened at $3.94 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The firm has a market cap of $4.04 billion, a PE ratio of -78.84 and a beta of 1.28. The company’s fifty day simple moving average is $4.89 and its 200 day simple moving average is $6.04. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. As a group, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

About Lumen Technologies

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.