Lumen Technologies, Inc. (NYSE:LUMN) Stake Increased by Northern Trust Corp

Northern Trust Corp raised its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,354,499 shares of the technology company's stock after acquiring an additional 982,206 shares during the quarter. Northern Trust Corp owned 1.22% of Lumen Technologies worth $65,602,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in LUMN. Norges Bank purchased a new stake in Lumen Technologies during the fourth quarter worth about $63,638,000. Renaissance Technologies LLC boosted its stake in shares of Lumen Technologies by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock worth $61,936,000 after acquiring an additional 5,049,709 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lumen Technologies by 368.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock worth $52,111,000 after acquiring an additional 7,717,596 shares during the period. Hennessy Advisors Inc. purchased a new position in Lumen Technologies in the 4th quarter valued at approximately $45,089,000. Finally, Allianz Asset Management GmbH raised its holdings in Lumen Technologies by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company's stock worth $41,366,000 after purchasing an additional 1,710,373 shares during the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LUMN. Raymond James raised Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target for the company in a research note on Monday, May 5th. Wells Fargo & Company upgraded 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 report on Friday, February 21st. Citigroup raised 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. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Trading Up 1.3%

NYSE:LUMN traded up $0.06 during trading hours on Monday, reaching $4.45. 2,094,527 shares of the company were exchanged, compared to its average volume of 19,178,449. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of -88.88 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 stock has a 50 day simple moving average of $4.03 and a 200 day simple moving average of $5.39. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33.

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