The State Board of Administration of Florida Retirement System sells 44,180 shares of Lumen Technologies, Inc. (NYSE: LUMN)
The Florida Retirement System State Board of Directors reduced its stake in shares of Lumen Technologies, Inc. (NYSE: LUMN – Get Rating) by 3.3% in the first quarter, the company says in its latest filing. with the SEC. The fund held 1,289,460 shares of the technology company after selling 44,180 shares during the quarter. The Florida Retirement System State Board of Directors held approximately 0.12% of Lumen Technologies worth $14,532,000 when last filed with the SEC.
A number of other hedge funds have also recently changed their stock holdings. Dimensional Fund Advisors LP increased its stake in Lumen Technologies shares by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 19,103,908 shares of the technology company worth $239,781,000 after buying 311,444 additional shares in the last quarter. ACR Alpine Capital Research LLC increased its stake in Lumen Technologies by 33.1% in the 1st quarter. ACR Alpine Capital Research LLC now owns 13,933,431 shares of the technology company worth $157,029,000 after buying an additional 3,466,092 shares last quarter. Northern Trust Corp increased its stake in Lumen Technologies by 0.4% in the fourth quarter. Northern Trust Corp now owns 11,725,494 shares of the tech company worth $147,156,000 after buying an additional 44,612 shares last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Lumen Technologies by 7.4% in Q4. Sumitomo Mitsui Trust Holdings Inc. now owns 6,852,413 shares of the technology company worth $85,998,000 after buying an additional 469,514 shares last quarter. Finally, Bank of America Corp DE increased its stake in Lumen Technologies by 16.3% in the 4th quarter. Bank of America Corp DE now owns 5,275,171 shares of the technology company worth $66,204,000 after buying an additional 740,754 shares last quarter. Institutional investors and hedge funds hold 77.22% of the company’s shares.
Analysts set new price targets
Separately, JPMorgan Chase & Co. issued a hedge on Lumen Technologies shares in a research note on Friday. They issued an “underweight” rating and a price target of $10.00 for the company.
Lumen Technologies Price Performance
NYSE:LUMN shares opened at $10.68 on Monday. The company has a 50-day moving average of $11.02 and a 200-day moving average of $11.10. The stock has a market capitalization of $11.03 billion, a PE ratio of 5.51, a PEG ratio of 0.79 and a beta of 0.97. The company has a current ratio of 2.04, a quick ratio of 2.08 and a debt ratio of 2.29. Lumen Technologies, Inc. has a 12-month low of $9.31 and a 12-month high of $14.49.
Lumen Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 10. Shareholders of record on Tuesday, May 31 received a dividend of $0.25. This represents an annualized dividend of $1.00 and a dividend yield of 9.36%. The ex-dividend date was Friday, May 27. Lumen Technologies’ payout ratio is currently 51.55%.
Lumen Technologies Company Profile
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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 commercial and residential customers in the United States and around the world. The Company operates in two segments, enterprise and mass market.
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