Argent Trust Co Has $571,000 Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Argent Trust Co reduced its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 49.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 107,460 shares of the technology company's stock after selling 103,457 shares during the quarter. Argent Trust Co's holdings in Lumen Technologies were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC bought a new stake in shares of Lumen Technologies in the 4th quarter worth about $1,139,000. Strategic Financial Concepts LLC lifted its holdings in Lumen Technologies by 430.7% in the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock valued at $952,000 after acquiring an additional 145,542 shares during the last quarter. Polianta Ltd purchased a new stake in shares of Lumen Technologies during the fourth quarter valued at $692,000. Mariner Investment Group LLC purchased a new position in shares of Lumen Technologies in the fourth quarter worth approximately $531,000. Finally, Geode Capital Management LLC raised its position in Lumen Technologies by 1.7% during the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company's stock valued at $165,776,000 after buying an additional 383,693 shares during the period. Hedge funds and other institutional investors own 66.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a research note on Friday, February 21st. Finally, Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and reduced their target price for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Lumen Technologies has an average rating of "Hold" and an average target price of $4.59.

Lumen Technologies Stock Performance

LUMN traded up $0.03 during midday trading on Thursday, reaching $3.31. The company's stock had a trading volume of 4,663,062 shares, compared to its average volume of 19,079,491. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The stock has a market cap of $3.39 billion, a P/E ratio of -66.09 and a beta of 1.29. The company has a fifty day simple moving average of $4.38 and a 200 day simple moving average of $5.73. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

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.