Lumen Technologies (NYSE:LUMN) Downgraded to C at TheStreet

TheStreet downgraded shares of Lumen Technologies (NYSE:LUMNGet Rating) from a b rating to a c rating in a research report sent to investors on Monday, TheStreetRatingsTable reports.

LUMN has been the topic of a number of other research reports. Royal Bank of Canada lifted their target price on Lumen Technologies from $10.00 to $11.00 and gave the company a sector perform rating in a report on Thursday, August 11th. JPMorgan Chase & Co. assumed coverage on Lumen Technologies in a report on Friday, August 5th. They set an underweight rating and a $10.00 target price for the company. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, Lumen Technologies has an average rating of Hold and a consensus price target of $10.60.

Lumen Technologies Stock Performance

Lumen Technologies stock opened at $11.26 on Monday. The stock has a fifty day moving average price of $10.90 and a 200 day moving average price of $11.06. Lumen Technologies has a 52 week low of $9.31 and a 52 week high of $14.49. The firm has a market capitalization of $11.66 billion, a P/E ratio of 5.80, a PEG ratio of 0.83 and a beta of 0.97. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 2.29.

Lumen Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 31st were paid a $0.25 dividend. The ex-dividend date was Friday, May 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.88%. Lumen Technologies’s dividend payout ratio (DPR) is presently 51.55%.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors have recently made changes to their positions in the company. First Republic Investment Management Inc. lifted its holdings in Lumen Technologies by 8.0% in the second quarter. First Republic Investment Management Inc. now owns 223,905 shares of the technology company’s stock worth $2,443,000 after acquiring an additional 16,580 shares during the last quarter. Atlas Capital Advisors LLC boosted its position in Lumen Technologies by 19.8% during the 2nd quarter. Atlas Capital Advisors LLC now owns 21,399 shares of the technology company’s stock valued at $233,000 after purchasing an additional 3,536 shares during the period. Captrust Financial Advisors grew its stake in Lumen Technologies by 13.5% during the 2nd quarter. Captrust Financial Advisors now owns 156,727 shares of the technology company’s stock worth $1,710,000 after buying an additional 18,670 shares during the last quarter. United Services Automobile Association bought a new stake in Lumen Technologies in the second quarter valued at $368,000. Finally, SVB Wealth LLC boosted its holdings in shares of Lumen Technologies by 131.3% during the second quarter. SVB Wealth LLC now owns 43,353 shares of the technology company’s stock valued at $473,000 after acquiring an additional 24,610 shares during the period. 77.22% of the stock is currently owned by institutional investors.

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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