Hsbc Holdings PLC Increases Holdings in Lumen Technologies, Inc. $LUMN

Hsbc Holdings PLC grew its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 27.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,140,027 shares of the technology company’s stock after acquiring an additional 1,957,992 shares during the quarter. Hsbc Holdings PLC owned about 0.89% of Lumen Technologies worth $70,973,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LUMN. Vanguard Group Inc. boosted its holdings in shares of Lumen Technologies by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock valued at $694,942,000 after buying an additional 1,295,177 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in Lumen Technologies by 58.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock worth $37,050,000 after acquiring an additional 1,755,368 shares in the last quarter. Private Advisory Group LLC purchased a new stake in Lumen Technologies in the fourth quarter valued at $1,200,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Lumen Technologies by 210.6% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock valued at $4,372,000 after acquiring an additional 381,391 shares in the last quarter. Finally, CapWealth Advisors LLC grew its holdings in shares of Lumen Technologies by 3.2% during the fourth quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company’s stock worth $52,057,000 after purchasing an additional 204,970 shares during the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Stock Down 1.2%

NYSE LUMN opened at $8.10 on Tuesday. The firm has a market cap of $8.35 billion, a P/E ratio of -4.66 and a beta of 1.70. Lumen Technologies, Inc. has a 52-week low of $3.37 and a 52-week high of $11.95. The business’s 50-day moving average price is $9.05 and its 200 day moving average price is $8.16.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the previous year, the company posted ($0.13) earnings per share. The firm’s revenue was down 8.9% compared to the same quarter last year. As a group, analysts anticipate that Lumen Technologies, Inc. will post -0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LUMN. JPMorgan Chase & Co. boosted their target price on Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Wells Fargo & Company raised their price target on Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Zacks Research downgraded Lumen Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, UBS Group raised their target price on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Ten analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $7.91.

Lumen Technologies Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.