Lumen Technologies, Inc. $LUMN Position Lessened by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 23.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,400,164 shares of the technology company’s stock after selling 5,273,607 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Lumen Technologies were worth $76,213,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in shares of Lumen Technologies by 91.6% during the first quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company’s stock worth $40,285,000 after acquiring an additional 4,911,803 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Lumen Technologies by 8.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock valued at $41,700,000 after purchasing an additional 748,185 shares during the period. Nuveen LLC bought a new position in Lumen Technologies in the 1st quarter worth about $26,469,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Lumen Technologies by 19.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,613,499 shares of the technology company’s stock valued at $20,207,000 after buying an additional 757,082 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Lumen Technologies by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 3,218,230 shares of the technology company’s stock worth $12,615,000 after buying an additional 689,843 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Performance

Shares of LUMN opened at $8.13 on Friday. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13. The firm’s 50 day moving average is $7.91 and its 200-day moving average is $5.66. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $11.95. The stock has a market capitalization of $8.33 billion, a P/E ratio of -6.89 and a beta of 1.45.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. The business had revenue of $4.05 billion during the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. Equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. The Goldman Sachs Group raised their target price on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Royal Bank Of Canada lifted their price objective on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Finally, Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.72.

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.