409,149 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Bought by Empowered Funds LLC

Empowered Funds LLC bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMNGet Rating) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 409,149 shares of the technology company’s stock, valued at approximately $4,611,000.

A number of other hedge funds also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Lumen Technologies by 0.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,226 shares of the technology company’s stock worth $1,377,000 after acquiring an additional 876 shares during the period. Lincoln National Corp boosted its stake in Lumen Technologies by 7.0% during the fourth quarter. Lincoln National Corp now owns 14,263 shares of the technology company’s stock worth $179,000 after buying an additional 930 shares in the last quarter. Mcrae Capital Management Inc. boosted its stake in Lumen Technologies by 3.0% during the fourth quarter. Mcrae Capital Management Inc. now owns 34,062 shares of the technology company’s stock worth $427,000 after buying an additional 1,000 shares in the last quarter. Sanders Morris Harris LLC boosted its stake in Lumen Technologies by 5.6% during the fourth quarter. Sanders Morris Harris LLC now owns 18,720 shares of the technology company’s stock worth $235,000 after buying an additional 1,000 shares in the last quarter. Finally, Commerce Bank boosted its stake in Lumen Technologies by 9.4% during the fourth quarter. Commerce Bank now owns 11,804 shares of the technology company’s stock worth $148,000 after buying an additional 1,013 shares in the last quarter. 77.22% of the stock is currently owned by institutional investors and hedge funds.

LUMN opened at $11.14 on Friday. Lumen Technologies, Inc. has a fifty-two week low of $9.31 and a fifty-two week high of $14.49. The company has a debt-to-equity ratio of 2.31, a current ratio of 2.08 and a quick ratio of 2.08. The firm’s fifty day moving average price is $11.17 and its two-hundred day moving average price is $11.45. The company has a market capitalization of $11.51 billion, a P/E ratio of 5.41, a P/E/G ratio of 0.84 and a beta of 1.01.

Lumen Technologies (NYSE:LUMNGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The technology company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.17. Lumen Technologies had a net margin of 11.16% and a return on equity of 18.72%. The firm had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts expect that Lumen Technologies, Inc. will post 1.68 EPS for the current fiscal year.

The company 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 of this dividend was Friday, May 27th. This represents a $1.00 annualized dividend and a dividend yield of 8.98%. Lumen Technologies’s dividend payout ratio is presently 48.54%.

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

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