Lumen Technologies, Inc. (NYSE:LUMN) Stock Position Lowered by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. 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 2.61% of Lumen Technologies worth $140,569,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Lumen Technologies by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after buying an additional 383,693 shares during the period. Hennessy Advisors Inc. acquired a new position in Lumen Technologies in the 4th quarter valued at approximately $45,089,000. Allianz Asset Management GmbH increased its stake in shares of Lumen Technologies by 28.1% during the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock worth $41,366,000 after purchasing an additional 1,710,373 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Lumen Technologies by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock worth $26,133,000 after purchasing an additional 128,172 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Lumen Technologies by 9.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,265,415 shares of the technology company’s stock worth $23,184,000 after purchasing an additional 294,679 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Price Performance

NYSE LUMN opened at $5.33 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The company has a fifty day simple moving average of $5.13 and a 200 day simple moving average of $6.13. The company has a market cap of $5.40 billion, a P/E ratio of -106.48 and a beta of 1.28. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33.

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

Wall Street Analyst Weigh In

LUMN has been the topic of several analyst reports. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, 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 note on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.59.

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.