Zeno Research LLC Buys New Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Zeno Research LLC bought a new stake in Lumen Technologies, Inc. (NYSE:LUMNGet Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 236,012 shares of the technology company’s stock, valued at approximately $2,962,000. Lumen Technologies comprises about 2.9% of Zeno Research LLC’s investment portfolio, making the stock its 15th largest position.

Several other large investors have also bought and sold shares of LUMN. FMR LLC grew its stake in shares of Lumen Technologies by 114.1% in the first quarter. FMR LLC now owns 2,433,165 shares of the technology company’s stock worth $29,174,000 after acquiring an additional 1,296,573 shares in the last quarter. Morgan Stanley increased its holdings in Lumen Technologies by 91.9% in the second 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 during the last quarter. BOKF NA acquired a new stake in Lumen Technologies in the third quarter valued at $151,000. Public Sector Pension Investment Board boosted its position in shares of Lumen Technologies by 8.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 172,397 shares of the technology company’s stock worth $2,136,000 after acquiring an additional 12,947 shares in the last quarter. Finally, B. Riley Wealth Management Inc. purchased a new position in shares of Lumen Technologies in the 3rd quarter valued at about $137,000. Institutional investors and hedge funds own 77.22% of the company’s stock.

NYSE:LUMN traded up $0.34 during mid-day trading on Thursday, reaching $12.30. 16,826,437 shares of the stock were exchanged, compared to its average volume of 14,555,866. The company has a 50 day simple moving average of $11.17 and a 200-day simple moving average of $11.79. The stock has a market capitalization of $12.71 billion, a P/E ratio of 5.81, a P/E/G ratio of 0.92 and a beta of 1.03. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 2.31. Lumen Technologies, Inc. has a 1 year low of $9.31 and a 1 year high of $15.45.

Lumen Technologies (NYSE:LUMNGet Rating) last announced its earnings results on Wednesday, May 4th. The technology company reported $0.63 earnings per share for the quarter, beating 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 company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the business posted $0.44 EPS. The company’s revenue was down 7.0% on a year-over-year basis. As a group, research analysts predict that Lumen Technologies, Inc. will post 1.54 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Tuesday, May 31st will be paid a $0.25 dividend. The ex-dividend date is Friday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 8.13%. Lumen Technologies’s dividend payout ratio (DPR) is currently 48.54%.

A number of research analysts have recently commented on the company. Moffett Nathanson dropped their price objective on Lumen Technologies from $10.00 to $8.00 in a report on Wednesday, February 16th. TheStreet upgraded Lumen Technologies from a “c+” rating to a “b” rating in a report on Friday, February 11th. Finally, Zacks Investment Research downgraded Lumen Technologies from a “hold” rating to a “strong sell” rating and set a $9.75 price target on the stock. in a research note on Tuesday, April 19th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.

See Also

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Institutional Ownership by Quarter for Lumen Technologies (NYSE:LUMN)

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