Intech Investment Management LLC Has $3.72 Million Stock Holdings in Lumen Technologies, Inc. $LUMN

Intech Investment Management LLC trimmed its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 30.5% in the second quarter, Holdings Channel.com reports. The fund owned 849,670 shares of the technology company’s stock after selling 372,235 shares during the quarter. Intech Investment Management LLC’s holdings in Lumen Technologies were worth $3,722,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning grew its stake in shares of Lumen Technologies by 13.2% in the 2nd quarter. Creative Planning now owns 246,872 shares of the technology company’s stock valued at $1,081,000 after purchasing an additional 28,735 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Lumen Technologies by 8.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 263,392 shares of the technology company’s stock worth $1,154,000 after acquiring an additional 20,541 shares in the last quarter. Credit Capital Investments LLC lifted its holdings in shares of Lumen Technologies by 150.0% during the second quarter. Credit Capital Investments LLC now owns 150,000 shares of the technology company’s stock valued at $657,000 after acquiring an additional 90,000 shares during the period. Candriam S.C.A. acquired a new stake in shares of Lumen Technologies in the 2nd quarter valued at $48,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Lumen Technologies by 34.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 53,226 shares of the technology company’s stock worth $233,000 after purchasing an additional 13,702 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LUMN shares. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research note on Friday, October 31st. The Goldman Sachs Group increased their price target on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Raymond James Financial lifted their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.97.

Lumen Technologies Stock Down 5.5%

Shares of NYSE:LUMN opened at $7.62 on Wednesday. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13. The stock has a market cap of $7.82 billion, a price-to-earnings ratio of -6.46 and a beta of 1.45. The company has a 50 day moving average of $7.59 and a 200-day moving average of $5.47. Lumen Technologies, Inc. has a one year low of $3.01 and a one year high of $11.95.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The firm had revenue of $4.05 billion for the quarter. On average, sell-side analysts forecast 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.