Lumen Technologies, Inc. (NYSE:LUMN) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in Lumen Technologies, Inc. (NYSE:LUMN) by 3,634.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,471 shares of the technology company’s stock after acquiring an additional 236,951 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Lumen Technologies were worth $1,366,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter worth approximately $1,139,000. Strategic Financial Concepts LLC grew its holdings in Lumen Technologies by 430.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company’s stock valued at $952,000 after buying an additional 145,542 shares during the last quarter. Polianta Ltd acquired a new stake in Lumen Technologies during the 4th quarter valued at $692,000. Mariner Investment Group LLC acquired a new stake in Lumen Technologies during the 4th quarter valued at $531,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Lumen Technologies during the 3rd quarter valued at $433,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Trading Down 0.3 %

Shares of Lumen Technologies stock opened at $4.68 on Friday. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The firm has a market cap of $4.74 billion, a PE ratio of -93.48 and a beta of 1.28. The business’s fifty day moving average is $5.34 and its two-hundred day moving average is $6.19. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Analysts Set New Price Targets

LUMN has been the topic of a number of analyst reports. The Goldman Sachs Group increased their target price on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Citigroup increased their target price on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a report on Friday. TD Cowen lowered their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.78.

Lumen Technologies Company 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.