Sterling Capital Management LLC Grows Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Sterling Capital Management LLC lifted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 4,803.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 172,097 shares of the technology company's stock after acquiring an additional 168,587 shares during the period. Sterling Capital Management LLC's holdings in Lumen Technologies were worth $914,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LUMN. O Shaughnessy Asset Management LLC increased its holdings 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 buying an additional 2,457 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Lumen Technologies by 20.3% during 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 in the last quarter. Avior Wealth Management LLC boosted its stake in shares of Lumen Technologies by 6.8% during the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company's stock worth $222,000 after acquiring an additional 2,657 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Lumen Technologies by 15.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock valued at $111,000 after purchasing an additional 2,844 shares during the period. Finally, Bank of Nova Scotia raised its position in Lumen Technologies by 28.6% during the fourth 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.

Wall Street Analyst Weigh In

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

Lumen Technologies Stock Performance

LUMN traded down $0.18 on Monday, hitting $3.12. 1,774,676 shares of the company traded hands, compared to its average volume of 19,169,202. The stock has a market capitalization of $3.19 billion, a PE ratio of -62.09 and a beta of 1.29. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The company has a 50 day moving average of $4.32 and a 200-day moving average of $5.67.

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 (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share 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.