Mitsubishi UFJ Trust & Banking Corp Sells 434,059 Shares of Lumen Technologies, Inc. $LUMN

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its Lumen stake by 35.3%, selling 434,059 shares in Q4 and now holds 795,914 shares (about 0.08% of the company) valued at roughly $6.18 million.
• Mixed insider activity: Director Diankha Linear sold 45,000 shares, while CEO Kathleen E. Johnson bought 78,685 shares at $6.35, increasing her stake to 8,562,582 shares; corporate insiders now own about 2.30% of Lumen.
• Lumen beat EPS estimates with $0.23 vs. a -$0.21 consensus and reported $3.04B revenue (down 8.7% YoY); the stock was trading up ~5.2%, market cap ~$9.6B, and analysts have an average rating of Hold with a $7.25 target.

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 35.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 795,914 shares of the technology company's stock after selling 434,059 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of Lumen Technologies worth $6,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of Lumen Technologies by 15.5% in the 3rd quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company's stock worth $43,000 after acquiring an additional 968 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Lumen Technologies by 24.5% in the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company's stock worth $33,000 after acquiring an additional 1,051 shares in the last quarter. Xponance Inc. raised its position in shares of Lumen Technologies by 1.7% in the 3rd quarter. Xponance Inc. now owns 75,686 shares of the technology company's stock worth $463,000 after acquiring an additional 1,273 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of Lumen Technologies by 10.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company's stock worth $87,000 after acquiring an additional 1,340 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Lumen Technologies by 49.1% in the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company's stock worth $25,000 after acquiring an additional 1,351 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Trading Up 5.2%

Shares of LUMN stock opened at $9.30 on Friday. The firm has a market capitalization of $9.58 billion, a PE ratio of -5.34 and a beta of 1.65. The firm has a fifty day simple moving average of $7.38 and a two-hundred day simple moving average of $8.01. Lumen Technologies, Inc. has a 12 month low of $3.37 and a 12 month high of $11.95.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.44. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the company earned $0.09 EPS. The firm's revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Diankha Linear sold 45,000 shares of the company's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $7.89, for a total transaction of $355,050.00. Following the completion of the transaction, the director directly owned 198,229 shares of the company's stock, valued at approximately $1,564,026.81. This represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kathleen E. Johnson purchased 78,685 shares of the stock in a transaction on Thursday, February 5th. The shares were acquired at an average cost of $6.35 per share, with a total value of $499,649.75. Following the transaction, the chief executive officer directly owned 8,562,582 shares in the company, valued at $54,372,395.70. The trade was a 0.93% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Raymond James Financial reissued a "market perform" rating on shares of Lumen Technologies in a research report on Wednesday, February 4th. Wall Street Zen raised Lumen Technologies from a "sell" rating to a "hold" rating in a research report on Sunday. The Goldman Sachs Group lifted their price objective on Lumen Technologies from $5.50 to $7.25 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Zacks Research raised shares of Lumen Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lumen Technologies in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Lumen Technologies has an average rating of "Hold" and an average target price of $7.25.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company's core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.

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