Charles Schwab Investment Management Inc. Cuts Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Charles Schwab Investment Management Inc. lowered its stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 14.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,472,492 shares of the technology company's stock after selling 4,339,320 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.61% of Lumen Technologies worth $140,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hennessy Advisors Inc. bought a new position in Lumen Technologies in the 4th quarter worth approximately $45,089,000. Victory Capital Management Inc. lifted its position in shares of Lumen Technologies by 1,081.0% in the third quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company's stock worth $16,819,000 after buying an additional 2,168,325 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Lumen Technologies by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock valued at $41,366,000 after buying an additional 1,710,373 shares during the last quarter. FORA Capital LLC purchased a new position in Lumen Technologies during the 3rd quarter valued at approximately $2,909,000. Finally, Geode Capital Management LLC raised its holdings in shares of Lumen Technologies by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company's stock worth $165,776,000 after acquiring an additional 383,693 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

LUMN has been the topic of several research reports. Wells Fargo & Company upgraded shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a research report on Friday, February 21st. Royal Bank of Canada restated a "sector perform" rating and issued a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and lowered their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Lumen Technologies presently has an average rating of "Hold" and an average target price of $4.59.

Lumen Technologies Trading Down 1.1 %

Shares of LUMN stock traded down $0.06 during trading hours on Tuesday, reaching $4.88. 13,259,650 shares of the stock were exchanged, compared to its average volume of 12,320,643. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of -97.48 and a beta of 1.28. The company's 50-day moving average price is $5.12 and its 200-day moving average price is $6.12.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results 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, equities analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Lumen Technologies Profile

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.