Nuveen Asset Management LLC Sells 10,763 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Nuveen Asset Management LLC reduced its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 0.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,110,557 shares of the technology company’s stock after selling 10,763 shares during the period. Nuveen Asset Management LLC owned about 0.31% of Lumen Technologies worth $16,517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LUMN. Smartleaf Asset Management LLC boosted its stake in Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock worth $36,000 after acquiring an additional 4,277 shares during the last quarter. Lazard Asset Management LLC raised its position in Lumen Technologies by 3,825.7% during the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock worth $39,000 after acquiring an additional 7,307 shares in the last quarter. R Squared Ltd acquired a new position in shares of Lumen Technologies in the fourth quarter valued at $48,000. Seeds Investor LLC acquired a new position in shares of Lumen Technologies in the fourth quarter valued at $57,000. Finally, HB Wealth Management LLC acquired a new position in shares of Lumen Technologies in the fourth quarter valued at $59,000. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Stock Down 2.9%

Shares of Lumen Technologies stock opened at $3.73 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The company’s fifty day simple moving average is $3.85 and its two-hundred day simple moving average is $5.17. The company has a market cap of $3.83 billion, a P/E ratio of -74.59 and a beta of 1.34. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The company’s revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) EPS. Research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LUMN shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Raymond James upgraded shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price target for the company in a report on Monday, May 5th. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, 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, February 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.58.

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.