Lumen Technologies, Inc. $LUMN is CapWealth Advisors LLC’s 3rd Largest Position

CapWealth Advisors LLC raised its position in Lumen Technologies, Inc. (NYSE:LUMN) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,699,685 shares of the technology company’s stock after buying an additional 204,970 shares during the period. Lumen Technologies comprises 3.6% of CapWealth Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. CapWealth Advisors LLC’s holdings in Lumen Technologies were worth $52,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in Lumen Technologies by 15.5% in the third quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock valued at $43,000 after buying an additional 968 shares in the last quarter. Fifth Third Bancorp increased its holdings in 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 buying an additional 1,051 shares in the last quarter. Xponance Inc. increased its holdings in Lumen Technologies by 1.7% in the third quarter. Xponance Inc. now owns 75,686 shares of the technology company’s stock valued at $463,000 after buying an additional 1,273 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in Lumen Technologies by 10.5% in the third quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock valued at $87,000 after buying an additional 1,340 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings 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 valued at $25,000 after buying an additional 1,351 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Insiders Place Their Bets

In related news, Director Diankha Linear sold 45,000 shares of the business’s stock in a transaction dated 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. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.30% of the company’s stock.

Lumen Technologies Trading Down 5.0%

LUMN opened at $9.19 on Wednesday. The firm has a market capitalization of $9.46 billion, a PE ratio of -5.28 and a beta of 1.65. Lumen Technologies, Inc. has a twelve month low of $3.37 and a twelve month high of $11.95. The firm’s 50-day moving average price is $7.85 and its 200 day moving average price is $8.11.

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 company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.83 billion. The company’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. As a group, analysts predict that Lumen Technologies, Inc. will post -0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LUMN shares. UBS Group lifted their price objective on shares of Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Raymond James Financial reaffirmed a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. The Goldman Sachs Group lifted their price objective on shares of Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research note on Tuesday, April 21st. Ten equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target 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.