Bank of New York Mellon Corp Has $27.61 Million Holdings in Lumen Technologies, Inc. $LUMN

Bank of New York Mellon Corp decreased its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,304,533 shares of the technology company’s stock after selling 372,646 shares during the period. Bank of New York Mellon Corp’s holdings in Lumen Technologies were worth $27,614,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Bank of Montreal Can increased its stake in Lumen Technologies by 2.3% in the 2nd quarter. Bank of Montreal Can now owns 243,548 shares of the technology company’s stock valued at $1,067,000 after buying an additional 5,381 shares during the period. Atria Investments Inc increased its stake in shares of Lumen Technologies by 14.7% in the second quarter. Atria Investments Inc now owns 71,224 shares of the technology company’s stock worth $312,000 after acquiring an additional 9,109 shares during the last quarter. Facet Wealth Inc. purchased a new stake in shares of Lumen Technologies during the second quarter worth $108,000. Teacher Retirement System of Texas boosted its position in Lumen Technologies by 4.9% during the second quarter. Teacher Retirement System of Texas now owns 147,843 shares of the technology company’s stock valued at $648,000 after purchasing an additional 6,883 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its stake in Lumen Technologies by 99.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 25,000 shares of the technology company’s stock valued at $110,000 after purchasing an additional 12,488 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Lumen Technologies Trading Down 2.1%

Shares of LUMN stock opened at $7.95 on Friday. Lumen Technologies, Inc. has a 12 month low of $3.01 and a 12 month high of $11.95. The company has a market cap of $8.15 billion, a PE ratio of -6.74 and a beta of 1.45. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. The business’s 50 day moving average is $7.49 and its two-hundred day moving average is $5.38.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 earnings per share (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 analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LUMN. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Citigroup lowered shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Friday, October 31st. Raymond James Financial raised their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group upped their price objective on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.97.

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.