Lumen Technologies, Inc. (NYSE:LUMN) Shares Bought by US Bancorp DE

US Bancorp DE increased its position in Lumen Technologies, Inc. (NYSE:LUMN) by 18.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,012 shares of the technology company’s stock after purchasing an additional 2,350 shares during the quarter. US Bancorp DE’s holdings in Lumen Technologies were worth $107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LUMN. Vanguard Group Inc. grew its stake in Lumen Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock valued at $187,673,000 after purchasing an additional 1,975,400 shares in the last quarter. Front Street Capital Management Inc. grew its position in shares of Lumen Technologies by 30.1% during the second quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company’s stock worth $12,827,000 after buying an additional 2,697,423 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Lumen Technologies by 11.6% in the second quarter. Renaissance Technologies LLC now owns 8,873,803 shares of the technology company’s stock worth $9,761,000 after buying an additional 919,300 shares during the last quarter. Millennium Management LLC raised its holdings in Lumen Technologies by 129.8% in the second quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock valued at $8,640,000 after acquiring an additional 4,436,710 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Lumen Technologies by 52.5% during the 2nd quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company’s stock worth $3,712,000 after acquiring an additional 1,246,289 shares in the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LUMN. TD Cowen cut their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Moffett Nathanson increased their target price on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Bank of America raised their price objective on Lumen Technologies from $1.00 to $2.00 and gave the stock an “underperform” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, Lumen Technologies has a consensus rating of “Hold” and an average target price of $4.02.

Lumen Technologies Trading Down 1.0 %

NYSE:LUMN opened at $8.54 on Friday. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. The business has a 50 day simple moving average of $6.93 and a 200 day simple moving average of $4.02. The firm has a market capitalization of $8.67 billion, a P/E ratio of -3.94 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) EPS. Equities research analysts predict that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other Lumen Technologies news, Director James Fowler bought 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $4.70 per share, with a total value of $47,000.00. Following the purchase, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. The trade was a 2.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.68% of the stock is owned by insiders.

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.