Lumen Technologies, Inc. $LUMN Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 6.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 995,381 shares of the technology company’s stock after acquiring an additional 57,375 shares during the period. Intech Investment Management LLC owned approximately 0.10% of Lumen Technologies worth $7,734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LUMN. Penn Capital Management Company LLC purchased a new position in Lumen Technologies in the 3rd quarter valued at about $16,837,000. Canada Pension Plan Investment Board purchased a new position in Lumen Technologies in the 2nd quarter valued at about $8,151,000. Vaughan Nelson Investment Management L.P. lifted its stake in Lumen Technologies by 58.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock valued at $37,050,000 after buying an additional 1,755,368 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Lumen Technologies by 577.6% in the 3rd quarter. New York State Common Retirement Fund now owns 1,901,976 shares of the technology company’s stock valued at $11,640,000 after buying an additional 1,621,273 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Lumen Technologies by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock valued at $694,942,000 after buying an additional 1,295,177 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup decreased their price target on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Zacks Research lowered shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. UBS Group raised their price target on shares of Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. TD Cowen raised their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group raised their target price on shares of Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Ten 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, Lumen Technologies currently has a consensus rating of “Reduce” and a consensus price target of $7.91.

Lumen Technologies Price Performance

LUMN opened at $10.97 on Friday. The company’s 50 day simple moving average is $8.40 and its two-hundred day simple moving average is $8.09. Lumen Technologies, Inc. has a 1-year low of $3.37 and a 1-year high of $11.95. The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of -6.30 and a beta of 1.65.

Lumen Technologies (NYSE:LUMN) last released its 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 analyst estimates of $2.83 billion. During the same quarter last year, the business earned ($0.13) earnings per share. Lumen Technologies’s quarterly revenue was down 8.9% on a year-over-year basis. On average, equities analysts anticipate that Lumen Technologies, Inc. will post -0.39 earnings per share for the current fiscal year.

About Lumen Technologies

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.