Lumen Technologies, Inc. (NYSE:LUMN) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 28.1% in the fourth quarter, Holdings Channel reports. The firm owned 7,790,277 shares of the technology company’s stock after purchasing an additional 1,710,373 shares during the period. Allianz Asset Management GmbH’s holdings in Lumen Technologies were worth $41,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Hussman Strategic Advisors Inc. acquired a new stake in Lumen Technologies in the 4th quarter worth approximately $781,000. Handelsbanken Fonder AB lifted its stake in Lumen Technologies by 20.3% during the 4th quarter. Handelsbanken Fonder AB now owns 249,700 shares of the technology company’s stock valued at $1,326,000 after acquiring an additional 42,100 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in Lumen Technologies during the 4th quarter valued at approximately $69,000. Truist Financial Corp lifted its stake in Lumen Technologies by 68.1% during the 4th quarter. Truist Financial Corp now owns 21,577 shares of the technology company’s stock valued at $115,000 after acquiring an additional 8,741 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Lumen Technologies by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock valued at $26,133,000 after acquiring an additional 128,172 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Citigroup lifted their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Wells Fargo & Company upgraded 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 note on Friday. TD Cowen decreased 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, The Goldman Sachs Group lifted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.78.

Lumen Technologies Stock Performance

LUMN opened at $4.68 on Friday. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The firm has a fifty day moving average price of $5.34 and a 200 day moving average price of $6.19. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The stock has a market cap of $4.74 billion, a P/E ratio of -93.48 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate 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%. Equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

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.