KBC Group NV Sells 321,674 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

KBC Group NV lowered its position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 89.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,258 shares of the technology company's stock after selling 321,674 shares during the period. KBC Group NV's holdings in Lumen Technologies were worth $154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BSW Wealth Partners boosted its holdings in Lumen Technologies by 9.1% in the first quarter. BSW Wealth Partners now owns 180,183 shares of the technology company's stock valued at $706,000 after acquiring an additional 15,090 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Lumen Technologies by 88.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 84,475 shares of the technology company's stock worth $331,000 after purchasing an additional 39,619 shares during the period. Avior Wealth Management LLC lifted its position in shares of Lumen Technologies by 9.8% in the 1st quarter. Avior Wealth Management LLC now owns 45,960 shares of the technology company's stock worth $180,000 after purchasing an additional 4,115 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of Lumen Technologies by 92.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,068 shares of the technology company's stock worth $157,000 after purchasing an additional 19,216 shares during the period. Finally, Steel Grove Capital Advisors LLC lifted its position in shares of Lumen Technologies by 71.8% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 127,552 shares of the technology company's stock worth $500,000 after purchasing an additional 53,328 shares during the period. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Stock Up 2.7%

NYSE:LUMN traded up $0.12 on Tuesday, hitting $4.53. The stock had a trading volume of 9,693,500 shares, compared to its average volume of 19,548,868. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 52 week low of $1.02 and a 52 week high of $10.33. The business's fifty day moving average is $4.11 and its 200 day moving average is $4.48. The company has a market cap of $4.65 billion, a PE ratio of -14.61 and a beta of 1.39.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative net margin of 2.41% and a negative return on equity of 75.08%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the firm posted ($0.04) EPS. Lumen Technologies's revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LUMN has been the topic of a number of recent analyst reports. BNP Paribas upgraded shares of Lumen Technologies to a "hold" rating in a research report on Wednesday, June 25th. Raymond James Financial raised Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective on the stock in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $4.58.

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.