KBC Group NV Has $1.92 Million Position in Lumen Technologies, Inc. (NYSE:LUMN)

KBC Group NV lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 1,095.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 360,932 shares of the technology company’s stock after buying an additional 330,742 shares during the quarter. KBC Group NV’s holdings in Lumen Technologies were worth $1,917,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LUMN. Marshall Wace LLP acquired a new stake in shares of Lumen Technologies during the 2nd quarter worth about $54,000. Squarepoint Ops LLC lifted its stake in shares of Lumen Technologies by 364.0% during the 2nd quarter. Squarepoint Ops LLC now owns 766,281 shares of the technology company’s stock worth $843,000 after buying an additional 1,056,551 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of 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 buying an additional 1,246,289 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Lumen Technologies by 129.8% during the 2nd quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company’s stock worth $8,640,000 after buying an additional 4,436,710 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Lumen Technologies by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 509,861 shares of the technology company’s stock worth $561,000 after buying an additional 9,922 shares during the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. TD Cowen dropped their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup lifted their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.66.

Lumen Technologies Price Performance

LUMN stock opened at $4.93 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The firm has a market cap of $5.00 billion, a P/E ratio of -2.27 and a beta of 1.28. The company’s 50-day moving average price is $5.96 and its two-hundred day moving average price is $5.92.

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

Lumen Technologies Company 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.