Intech Investment Management LLC Grows Stock Position in Lumen Technologies, Inc. $LUMN

Intech Investment Management LLC increased its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 995,381 shares of the technology company’s stock after buying an additional 57,375 shares during the quarter. Intech Investment Management LLC’s holdings in Lumen Technologies were worth $7,734,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LUMN. UMB Bank n.a. raised its position in shares of Lumen Technologies by 49.1% during the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after buying an additional 1,351 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Lumen Technologies during the 4th quarter valued at approximately $30,000. Fifth Third Bancorp raised its position in shares of Lumen Technologies by 24.5% during the 3rd quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after buying an additional 1,051 shares during the period. Bessemer Group Inc. increased its holdings in Lumen Technologies by 15.5% in the 3rd quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock valued at $43,000 after purchasing an additional 968 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Lumen Technologies by 3,093.3% in the 4th quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock valued at $48,000 after purchasing an additional 6,032 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LUMN. JPMorgan Chase & Co. lifted their target price on shares of Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Citigroup dropped their target price on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Wells Fargo & Company lifted their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. Ten analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $7.91.

Lumen Technologies Stock Up 2.5%

NYSE:LUMN opened at $10.97 on Friday. The company has a fifty day simple moving average of $8.40 and a two-hundred day simple moving average of $8.09. The company has a market cap of $11.30 billion, a price-to-earnings ratio of -6.30 and a beta of 1.65. Lumen Technologies, Inc. has a 52 week low of $3.37 and a 52 week high of $11.95.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.83 billion. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period last year, the business posted ($0.13) EPS. On average, analysts expect that Lumen Technologies, Inc. will post -0.39 EPS for the current year.

Lumen Technologies Company 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.