Ballentine Partners LLC lifted its stake in Lumen Technologies, Inc. (NYSE:LUMN – Free Report) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,074 shares of the technology company’s stock after buying an additional 3,868 shares during the period. Ballentine Partners LLC’s holdings in Lumen Technologies were worth $160,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in LUMN. Mercer Global Advisors Inc. ADV grew its stake in shares of Lumen Technologies by 88.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 107,081 shares of the technology company’s stock valued at $118,000 after purchasing an additional 50,381 shares during the last quarter. XTX Topco Ltd bought a new stake in Lumen Technologies during the 2nd quarter worth approximately $74,000. Intech Investment Management LLC acquired a new stake in shares of Lumen Technologies in the 2nd quarter valued at about $146,000. Public Sector Pension Investment Board raised its holdings in shares of Lumen Technologies by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 2,233,259 shares of the technology company’s stock valued at $2,457,000 after purchasing an additional 165,326 shares during the last quarter. Finally, Xponance Inc. raised its holdings in Lumen Technologies by 4.0% during the second quarter. Xponance Inc. now owns 64,444 shares of the technology company’s stock worth $71,000 after acquiring an additional 2,487 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Citigroup boosted their target price on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. TD Cowen cut their price target on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.25 price objective (up previously from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. Finally, The Goldman Sachs Group lifted their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.66.
Lumen Technologies Trading Up 2.7 %
Shares of Lumen Technologies stock opened at $5.92 on Monday. The company’s 50-day moving average price is $6.25 and its 200-day moving average price is $5.82. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 53.05. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The company has a market cap of $6.01 billion, a price-to-earnings ratio of -2.73 and a beta of 1.28.
Lumen Technologies (NYSE:LUMN – Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) earnings per share. On average, equities analysts expect that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.
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.
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