Federated Hermes Inc. Has $13.96 Million Position in Lumen Technologies, Inc. $LUMN

Federated Hermes Inc. lifted its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 67.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,186,562 shares of the technology company’s stock after acquiring an additional 1,286,085 shares during the quarter. Federated Hermes Inc. owned approximately 0.31% of Lumen Technologies worth $13,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Lumen Technologies in the second quarter valued at about $47,923,000. Invesco Ltd. grew its stake in shares of Lumen Technologies by 6.3% in the 2nd quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock valued at $47,869,000 after buying an additional 652,124 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Lumen Technologies by 8.5% in the second quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock worth $41,700,000 after buying an additional 748,185 shares during the last quarter. Nuveen LLC bought a new position in Lumen Technologies during the first quarter valued at approximately $26,469,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Lumen Technologies by 19.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,613,499 shares of the technology company’s stock valued at $20,207,000 after acquiring an additional 757,082 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Trading Up 2.3%

Shares of Lumen Technologies stock opened at $8.70 on Thursday. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $11.95. The company’s fifty day simple moving average is $8.35 and its 200-day simple moving average is $5.92. The company has a market cap of $8.92 billion, a price-to-earnings ratio of -5.27 and a beta of 1.42. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 59.98.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The firm had revenue of $4.05 billion during the quarter. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LUMN. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Royal Bank Of Canada upped their price objective on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Finally, Citigroup lowered Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a report on Friday, October 31st. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.72.

Lumen Technologies 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.