Lumen Technologies, Inc. $LUMN Stock Position Boosted by CapWealth Advisors LLC

Key Points

• CapWealth Advisors LLC increased its Lumen Technologies stake by 3.2% in Q4, adding 204,970 shares and bringing its total holding to 6.7 million shares valued at about $52.1 million.
• Institutional ownership remains heavy, with hedge funds and other institutional investors owning 66.19% of Lumen stock; several firms, including Vanguard and Vaughan Nelson, also raised their positions.
• Lumen reported a mixed earnings update, posting a wider-than-expected loss of $0.47 per share while revenue of $2.90 billion topped estimates, though sales still fell 8.9% year over year.

CapWealth Advisors LLC lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,699,685 shares of the technology company's stock after acquiring an additional 204,970 shares during the quarter. Lumen Technologies makes up approximately 3.6% of CapWealth Advisors LLC's holdings, making the stock its 3rd biggest holding. CapWealth Advisors LLC owned about 0.65% of Lumen Technologies worth $52,057,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LUMN. Vanguard Group Inc. increased its holdings in Lumen Technologies by 1.2% during the third quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company's stock valued at $694,942,000 after buying an additional 1,295,177 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Lumen Technologies by 58.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company's stock valued at $37,050,000 after buying an additional 1,755,368 shares during the period. Allianz Asset Management GmbH increased its holdings in Lumen Technologies by 5.6% during the third quarter. Allianz Asset Management GmbH now owns 10,056,824 shares of the technology company's stock valued at $61,548,000 after buying an additional 536,324 shares during the period. Private Advisory Group LLC purchased a new position in Lumen Technologies during the fourth quarter valued at approximately $1,200,000. Finally, Public Sector Pension Investment Board increased its holdings in Lumen Technologies by 5.3% during the third quarter. Public Sector Pension Investment Board now owns 3,682,348 shares of the technology company's stock valued at $22,536,000 after buying an additional 184,883 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock opened at $9.19 on Wednesday. The firm has a fifty day moving average price of $7.85 and a 200 day moving average price of $8.11. Lumen Technologies, Inc. has a 1 year low of $3.37 and a 1 year high of $11.95. The stock has a market cap of $9.46 billion, a PE ratio of -5.28 and a beta of 1.65.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The company had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same period in the previous year, the business posted ($0.13) earnings per share. Lumen Technologies's revenue was down 8.9% compared to the same quarter last year. As a group, equities analysts expect that Lumen Technologies, Inc. will post -0.39 EPS for the current year.

Insider Activity

In related news, Director Diankha Linear sold 45,000 shares of the firm's stock in a transaction on 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 owned 198,229 shares of the company's stock, valued at $1,564,026.81. This trade represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LUMN has been the topic of several research reports. Wall Street Zen raised shares of Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, May 3rd. Zacks Research lowered shares of Lumen Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 5th. The Goldman Sachs Group lifted their price objective on shares of Lumen Technologies from $5.50 to $7.25 and gave the company a "neutral" rating in a report on Wednesday, February 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lumen Technologies in a report on Tuesday, April 21st. Finally, Raymond James Financial reissued a "market perform" rating on shares of Lumen Technologies in a report on Wednesday, February 4th. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $7.91.

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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