Federated Hermes Inc. Sells 338,245 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Federated Hermes Inc. reduced its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 25.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 967,621 shares of the technology company's stock after selling 338,245 shares during the quarter. Federated Hermes Inc. owned 0.10% of Lumen Technologies worth $5,138,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Lumen Technologies in the fourth quarter worth $63,638,000. Hennessy Advisors Inc. bought a new position in shares of Lumen Technologies in the fourth quarter worth approximately $45,089,000. Trexquant Investment LP purchased a new position in shares of Lumen Technologies in the fourth quarter worth $12,930,000. Allianz Asset Management GmbH boosted its position in Lumen Technologies by 28.1% during the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock valued at $41,366,000 after buying an additional 1,710,373 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Lumen Technologies by 23.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company's stock worth $21,399,000 after acquiring an additional 764,523 shares during the last quarter. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN traded down $0.01 during midday trading on Thursday, hitting $3.27. The company had a trading volume of 2,869,573 shares, compared to its average volume of 19,073,984. The company has a fifty day moving average of $4.38 and a two-hundred day moving average of $5.73. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The company has a market cap of $3.35 billion, a price-to-earnings ratio of -65.31 and a beta of 1.29.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

LUMN has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price objective on the stock in a research report on Friday, February 21st. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Lumen Technologies presently has a consensus rating of "Hold" and a consensus price target of $4.59.

Lumen Technologies Company 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.