Prudential Financial Inc. Sells 148,029 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Prudential Financial Inc. trimmed its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,030,211 shares of the technology company's stock after selling 148,029 shares during the quarter. Prudential Financial Inc. owned 0.10% of Lumen Technologies worth $5,470,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Cerity Partners LLC lifted its stake in shares of Lumen Technologies by 120.2% in the 3rd quarter. Cerity Partners LLC now owns 113,025 shares of the technology company's stock valued at $802,000 after purchasing an additional 61,689 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Lumen Technologies by 9.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 557,868 shares of the technology company's stock valued at $3,961,000 after buying an additional 48,007 shares during the period. Quantbot Technologies LP bought a new stake in Lumen Technologies in the third quarter worth $733,000. Townsquare Capital LLC boosted its stake in Lumen Technologies by 79.7% during the third quarter. Townsquare Capital LLC now owns 34,582 shares of the technology company's stock worth $246,000 after buying an additional 15,342 shares during the period. Finally, Glenmede Trust Co. NA boosted its stake in Lumen Technologies by 51.6% during the third quarter. Glenmede Trust Co. NA now owns 23,961 shares of the technology company's stock worth $170,000 after buying an additional 8,152 shares during the period. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Trading Down 6.4 %

Shares of NYSE LUMN traded down $0.23 during trading hours on Friday, reaching $3.28. The stock had a trading volume of 17,377,375 shares, compared to its average volume of 19,050,260. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -65.49 and a beta of 1.29. The business's fifty day moving average price is $4.69 and its two-hundred day moving average price is $5.96. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.