Northern Trust Corp Acquires 982,206 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Northern Trust Corp boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,354,499 shares of the technology company's stock after purchasing an additional 982,206 shares during the period. Northern Trust Corp owned approximately 1.22% of Lumen Technologies worth $65,602,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC boosted its stake in Lumen Technologies by 7.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company's stock worth $182,000 after purchasing an additional 2,457 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Lumen Technologies by 20.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company's stock worth $78,000 after buying an additional 2,489 shares during the period. Avior Wealth Management LLC grew its holdings in shares of Lumen Technologies by 6.8% during the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock valued at $222,000 after buying an additional 2,657 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock valued at $111,000 after buying an additional 2,844 shares during the period. Finally, Bank of Nova Scotia boosted its position in Lumen Technologies by 28.6% during the 4th quarter. Bank of Nova Scotia now owns 13,788 shares of the technology company's stock worth $73,000 after acquiring an additional 3,069 shares during the period. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Stock Performance

LUMN traded up $0.23 on Friday, hitting $4.39. The company had a trading volume of 10,431,366 shares, compared to its average volume of 19,195,009. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of -87.78 and a beta of 1.34. 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's fifty day moving average price is $4.03 and its 200 day moving average price is $5.40. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.16. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Lumen Technologies's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) EPS. Equities analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on LUMN shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their target price for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a research note on Friday, February 21st. Finally, Raymond James upgraded Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price on the stock in a research note on Monday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Lumen Technologies has a consensus rating of "Hold" and a consensus price target of $4.58.

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.