Vanguard Group Inc. Has $580.39 Million Position in Lumen Technologies, Inc. (NYSE:LUMN)

Vanguard Group Inc. reduced its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 109,301,827 shares of the technology company's stock after selling 7,474,123 shares during the quarter. Vanguard Group Inc. owned about 10.77% of Lumen Technologies worth $580,393,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in LUMN. Geode Capital Management LLC lifted its holdings in shares of Lumen Technologies by 1.7% during the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company's stock worth $165,776,000 after buying an additional 383,693 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Lumen Technologies in the 4th quarter worth $45,089,000. Allianz Asset Management GmbH raised its position in shares of 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 valued at $41,366,000 after buying an additional 1,710,373 shares during the last quarter. Principal Financial Group Inc. increased its stake in Lumen Technologies by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company's stock valued at $26,133,000 after acquiring an additional 128,172 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised 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 valued at $21,399,000 after acquiring an additional 764,523 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Lumen Technologies Price Performance

Shares of NYSE:LUMN traded down $0.23 during midday trading on Friday, reaching $3.28. The company's stock had a trading volume of 17,377,375 shares, compared to its average volume of 19,050,260. The business's fifty day simple moving average is $4.69 and its 200-day simple moving average is $5.96. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The company has a market capitalization of $3.36 billion, a P/E ratio of -65.49 and a beta of 1.29.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates 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%. As a group, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Lumen Technologies 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.