LPL Financial LLC Has $2 Million Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

LPL Financial LLC lessened its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 43.2% during the fourth quarter, Holdings Channel reports. The firm owned 376,089 shares of the technology company’s stock after selling 285,987 shares during the period. LPL Financial LLC’s holdings in Lumen Technologies were worth $1,997,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LUMN. Fox Run Management L.L.C. purchased a new stake in Lumen Technologies in the fourth quarter worth $293,000. KLP Kapitalforvaltning AS purchased a new position in Lumen Technologies in the 4th quarter worth $1,039,000. AXQ Capital LP bought a new stake in Lumen Technologies in the fourth quarter valued at approximately $84,000. Sei Investments Co. raised its stake in shares of Lumen Technologies by 273.0% during the fourth quarter. Sei Investments Co. now owns 177,538 shares of the technology company’s stock valued at $943,000 after acquiring an additional 129,945 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Lumen Technologies by 787.2% during the fourth quarter. American Century Companies Inc. now owns 136,961 shares of the technology company’s stock valued at $727,000 after acquiring an additional 121,524 shares in the last quarter. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Down 1.9 %

LUMN opened at $3.41 on Wednesday. The firm has a 50-day simple moving average of $4.42 and a two-hundred day simple moving average of $5.75. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The company has a market capitalization of $3.49 billion, a PE ratio of -68.09 and a beta of 1.29. 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 announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LUMN shares. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their target price for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Lumen Technologies presently has a consensus rating of “Hold” and an average price target of $4.59.

About Lumen Technologies

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.