Lumen Technologies, Inc. $LUMN Shares Purchased by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. raised its position in Lumen Technologies, Inc. (NYSE:LUMN) by 11.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,300,565 shares of the technology company’s stock after purchasing an additional 532,265 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.51% of Lumen Technologies worth $36,839,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Lumen Technologies in the 4th quarter worth about $25,000. International Assets Investment Management LLC purchased a new position in Lumen Technologies during the 4th quarter valued at about $30,000. Los Angeles Capital Management LLC acquired a new position in Lumen Technologies during the fourth quarter worth about $35,000. Fifth Third Bancorp lifted its holdings in shares of Lumen Technologies by 24.5% in the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,051 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of Lumen Technologies by 3,093.3% in the fourth 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.

Lumen Technologies Stock Down 0.5%

LUMN stock opened at $8.16 on Monday. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of -4.69 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 stock’s fifty day simple moving average is $9.04 and its 200-day simple moving average is $8.17.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LUMN. Zacks Research cut shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research report on Tuesday, April 21st. Wells Fargo & Company boosted their price target on Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, TD Cowen upped their price objective on Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $7.91.

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.