Mackay Shields LLC Decreases Position in Lumen Technologies, Inc. (NYSE:LUMN)

Mackay Shields LLC lessened its holdings in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) by 9.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,406 shares of the technology company’s stock after selling 14,292 shares during the period. Mackay Shields LLC’s holdings in Lumen Technologies were worth $1,737,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its position in Lumen Technologies by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,377,675 shares of the technology company’s stock valued at $239,678,000 after buying an additional 680,005 shares during the period. Morgan Stanley boosted its position in Lumen Technologies by 43.0% in the 3rd quarter. Morgan Stanley now owns 18,060,303 shares of the technology company’s stock valued at $223,768,000 after buying an additional 5,433,554 shares during the period. ACR Alpine Capital Research LLC boosted its position in Lumen Technologies by 0.7% in the 4th quarter. ACR Alpine Capital Research LLC now owns 10,467,339 shares of the technology company’s stock valued at $131,365,000 after buying an additional 73,768 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Lumen Technologies by 7.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,852,413 shares of the technology company’s stock valued at $85,998,000 after buying an additional 469,514 shares during the period. Finally, Beck Mack & Oliver LLC boosted its position in Lumen Technologies by 0.9% in the 3rd quarter. Beck Mack & Oliver LLC now owns 5,605,224 shares of the technology company’s stock valued at $69,449,000 after buying an additional 52,593 shares during the period. 77.59% of the stock is owned by institutional investors.

Shares of NYSE:LUMN opened at $11.34 on Tuesday. The company’s fifty day moving average price is $10.82 and its 200 day moving average price is $12.04. Lumen Technologies, Inc. has a 12 month low of $9.31 and a 12 month high of $15.45. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $11.71 billion, a P/E ratio of 5.94, a P/E/G ratio of 1.04 and a beta of 1.02.

Lumen Technologies (NYSE:LUMNGet Rating) last announced its quarterly earnings results on Wednesday, February 9th. The technology company reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.04). Lumen Technologies had a return on equity of 17.72% and a net margin of 10.33%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.86 billion. On average, sell-side analysts anticipate that Lumen Technologies, Inc. will post 1.39 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 18th. Investors of record on Tuesday, March 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 7th. This represents a $1.00 annualized dividend and a yield of 8.82%. Lumen Technologies’s dividend payout ratio is currently 52.36%.

A number of brokerages have recently weighed in on LUMN. Moffett Nathanson reduced their price objective on shares of Lumen Technologies from $10.00 to $8.00 in a report on Wednesday, February 16th. TheStreet upgraded shares of Lumen Technologies from a “c+” rating to a “b” rating in a report on Friday, February 11th. Finally, Zacks Investment Research upgraded shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, January 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.50.

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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