Lumen Technologies, Inc. (NYSE:LUMN) Declares Quarterly Dividend of $0.25 – MarketBeat
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Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) announced a quarterly dividend on Thursday, August 18th, Zacks reports. Stockholders of record on Tuesday, August 30th will be paid a dividend of 0.25 per share by the technology company on Friday, September 9th. This represents a $1.00 annualized dividend and a dividend yield of 9.04%. The ex-dividend date of this dividend is Monday, August 29th.
Lumen Technologies Trading Up 0.2 %
NYSE LUMN opened at $11.06 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 2.29. The firm has a market cap of $11.45 billion, a PE ratio of 5.70, a price-to-earnings-growth ratio of 0.83 and a beta of 0.97. The company has a 50 day moving average price of $10.87 and a 200 day moving average price of $11.04. Lumen Technologies has a 52 week low of $9.31 and a 52 week high of $14.49.
Institutional Trading of Lumen Technologies
A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Lumen Technologies by 2.4% during the first quarter. Vanguard Group Inc. now owns 116,137,605 shares of the technology company’s stock valued at $1,308,871,000 after purchasing an additional 2,726,090 shares in the last quarter. Invesco Ltd. lifted its holdings in Lumen Technologies by 24.1% during the first quarter. Invesco Ltd. now owns 15,016,053 shares of the technology company’s stock valued at $169,230,000 after purchasing an additional 2,919,199 shares in the last quarter. Northern Trust Corp lifted its holdings in Lumen Technologies by 0.9% during the first quarter. Northern Trust Corp now owns 11,827,259 shares of the technology company’s stock valued at $133,292,000 after purchasing an additional 101,765 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Lumen Technologies by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,131,690 shares of the technology company’s stock valued at $102,914,000 after purchasing an additional 547,257 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Lumen Technologies by 69.9% during the first quarter. Allianz Asset Management GmbH now owns 3,146,562 shares of the technology company’s stock valued at $35,461,000 after purchasing an additional 1,294,368 shares in the last quarter. 77.22% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on LUMN. TheStreet lowered shares of Lumen Technologies from a “b” rating to a “c” rating in a research note on Monday, August 15th. Royal Bank of Canada increased their price objective on shares of Lumen Technologies from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 11th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Lumen Technologies in a research note on Friday, August 5th. They issued an “underweight” rating and a $10.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat, Lumen Technologies has an average rating of “Hold” and an average price target of $10.60.
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 business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.
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