Prudential Financial Inc. Increases Stock Holdings in Lumen Technologies, Inc. $LUMN

Key Points

• Prudential Financial increased its Lumen stake by 10.5%, buying 104,362 shares to hold 1,099,473 shares worth about $4.82 million (roughly 0.11% of the company) per its latest 13F filing.
• Analysts show mixed views but a consensus "Hold" rating with an average price target of $6.72 — notable moves include RBC raising its target to $8, Citigroup cutting to neutral, and Weiss reaffirming a sell.
• Lumen trades near $8.13 with a market cap of $8.33B and a negative P/E and profitability metrics (negative ROE and net margin); the company reported $0.49 EPS last quarter but analysts forecast -0.87 EPS for the current fiscal year.

Prudential Financial Inc. increased its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 10.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,099,473 shares of the technology company's stock after buying an additional 104,362 shares during the quarter. Prudential Financial Inc. owned about 0.11% of Lumen Technologies worth $4,816,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LUMN. HB Wealth Management LLC lifted its holdings in shares of Lumen Technologies by 23.6% during the 1st quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company's stock worth $54,000 after acquiring an additional 2,619 shares during the period. Farther Finance Advisors LLC grew its holdings in Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company's stock valued at $26,000 after purchasing an additional 3,391 shares during the period. Natixis Advisors LLC raised its stake in Lumen Technologies by 5.1% during the first quarter. Natixis Advisors LLC now owns 70,630 shares of the technology company's stock worth $277,000 after purchasing an additional 3,426 shares during the period. LPL Financial LLC boosted its holdings in shares of Lumen Technologies by 1.0% in the 1st quarter. LPL Financial LLC now owns 380,016 shares of the technology company's stock valued at $1,490,000 after purchasing an additional 3,927 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Lumen Technologies by 60.8% during the 1st quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company's stock valued at $43,000 after buying an additional 4,102 shares during the period. Hedge funds and other institutional investors own 66.19% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LUMN. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on Lumen Technologies from $4.25 to $8.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 25th. The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.10 to $4.60 and gave the stock a "neutral" rating in a report on Friday, October 3rd. Wall Street Zen upgraded shares of Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, November 9th. Finally, Citigroup cut shares of Lumen Technologies from a "buy" rating to a "neutral" rating and set a $11.00 price target on the stock. in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.72.

Lumen Technologies Price Performance

LUMN stock opened at $8.13 on Monday. The stock has a 50-day simple moving average of $7.91 and a 200-day simple moving average of $5.67. The firm has a market cap of $8.33 billion, a P/E ratio of -6.89 and a beta of 1.45. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $11.95.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. The firm had revenue of $4.05 billion during the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

About Lumen Technologies

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.

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