Raymond James Financial Inc. Invests $1.62 Million in Lumen Technologies, Inc. (NYSE:LUMN)

Raymond James Financial Inc. acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 305,867 shares of the technology company's stock, valued at approximately $1,624,000.

Other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in Lumen Technologies during the 3rd quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Lumen Technologies during the 3rd quarter worth about $36,000. Smartleaf Asset Management LLC grew its holdings in Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after buying an additional 4,277 shares during the last quarter. R Squared Ltd bought a new position in Lumen Technologies in the 4th quarter worth approximately $48,000. Finally, HB Wealth Management LLC acquired a new position in shares of Lumen Technologies during the fourth quarter worth approximately $59,000. 66.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LUMN has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 target price on shares of Lumen Technologies in a research 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 research report on Friday, February 21st. Finally, Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $4.59.

Lumen Technologies Price Performance

NYSE LUMN traded down $0.23 during trading on Friday, reaching $3.28. 17,377,375 shares of the company traded hands, compared to its average volume of 19,050,260. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The stock's 50 day moving average price is $4.69 and its two-hundred day moving average price is $5.96. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -65.49 and a beta of 1.29.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates 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%. As a group, analysts anticipate 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.