Intech Investment Management LLC Has $5.74 Million Stock Position in Lumen Technologies, Inc. $LUMN

Intech Investment Management LLC grew its position in Lumen Technologies, Inc. (NYSE:LUMN) by 10.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 938,006 shares of the technology company’s stock after acquiring an additional 88,336 shares during the quarter. Intech Investment Management LLC’s holdings in Lumen Technologies were worth $5,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its position in Lumen Technologies by 49.1% in the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,351 shares during the period. MRP Capital Investments LLC increased its holdings in Lumen Technologies by 160.0% in the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after buying an additional 4,000 shares during the period. Fifth Third Bancorp raised its stake in shares of Lumen Technologies by 24.5% in 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 in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Lumen Technologies by 15.5% during the 3rd quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock worth $43,000 after acquiring an additional 968 shares during the period. Finally, Firestone Capital Management acquired a new stake in shares of Lumen Technologies during the 2nd quarter valued at about $44,000. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LUMN. Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. UBS Group increased their target price on Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Wall Street Zen downgraded Lumen Technologies from a “hold” rating to a “sell” rating in a research report on Saturday. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a research report on Wednesday, February 4th. Finally, Citigroup dropped their price objective on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.25.

Insider Transactions at Lumen Technologies

In other news, Director Diankha Linear sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $7.89, for a total transaction of $355,050.00. Following the transaction, the director directly owned 198,229 shares in the company, valued at approximately $1,564,026.81. This represents a 18.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kathleen E. Johnson purchased 78,685 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were bought at an average cost of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the purchase, the chief executive officer directly owned 8,562,582 shares of the company’s stock, valued at $54,372,395.70. The trade was a 0.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.30% of the stock is owned by corporate insiders.

Lumen Technologies Price Performance

LUMN stock opened at $7.09 on Friday. The business has a fifty day moving average price of $8.01 and a 200 day moving average price of $7.44. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $11.95. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of -4.07 and a beta of 1.51.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 14.02%.The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The business’s revenue was down 8.7% on a year-over-year basis. On average, equities analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

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.