Federated Hermes Inc. Increases Stock Position in Lumen Technologies, Inc. $LUMN

Federated Hermes Inc. grew its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 19.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,799,778 shares of the technology company’s stock after buying an additional 613,216 shares during the period. Federated Hermes Inc. owned 0.37% of Lumen Technologies worth $23,255,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in Lumen Technologies by 132.3% in the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after purchasing an additional 3,391 shares during the period. MRP Capital Investments LLC grew its stake in shares of Lumen Technologies by 160.0% in the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock worth $28,000 after buying an additional 4,000 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Lumen Technologies by 3,527.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after buying an additional 6,456 shares in the last quarter. Firestone Capital Management purchased a new position in Lumen Technologies during the second quarter valued at $44,000. Finally, FreeGulliver LLC bought a new stake in Lumen Technologies in the second quarter worth $44,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Trading Down 1.3%

NYSE:LUMN opened at $8.82 on Friday. The company has a market cap of $9.04 billion, a PE ratio of -5.34 and a beta of 1.46. The company has a 50 day simple moving average of $8.24 and a two-hundred day simple moving average of $6.93. Lumen Technologies, Inc. has a 12 month low of $3.01 and a 12 month high of $11.95.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Thursday, October 30th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.11. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the business posted ($0.13) EPS. Research analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LUMN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday, January 22nd. Citigroup downgraded shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Friday, October 31st. Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Royal Bank Of Canada lifted their target price on Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.72.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.