Vanguard Group Inc. Buys 1,295,177 Shares of Lumen Technologies, Inc. $LUMN

Vanguard Group Inc. boosted its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 1.2% in the third quarter, HoldingsChannel reports. The firm owned 113,552,549 shares of the technology company’s stock after buying an additional 1,295,177 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Lumen Technologies worth $694,942,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LUMN. UMB Bank n.a. grew its stake in shares of Lumen Technologies by 49.1% in the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after buying an additional 1,351 shares during the period. MRP Capital Investments LLC grew its stake in Lumen Technologies by 160.0% in the second quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after acquiring an additional 4,000 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of Lumen Technologies by 3,527.9% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock valued at $29,000 after acquiring an additional 6,456 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Lumen Technologies by 24.5% during the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,051 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Lumen Technologies by 15.5% in the 3rd quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock worth $43,000 after purchasing an additional 968 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LUMN. The Goldman Sachs Group boosted their price target on shares of Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a report on Thursday, January 22nd. UBS Group upped their target price on shares of Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Citigroup dropped their price target on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Finally, Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lumen Technologies has an average rating of “Hold” and an average price target of $7.25.

Insider Buying and Selling at Lumen Technologies

In related news, CEO Kathleen E. Johnson acquired 78,685 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average price of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the acquisition, the chief executive officer owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. This represents a 0.93% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diankha Linear sold 45,000 shares of Lumen Technologies stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the completion of the sale, the director directly owned 198,229 shares in the company, valued at $1,564,026.81. This trade represents a 18.50% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.30% of the company’s stock.

Lumen Technologies Stock Performance

NYSE:LUMN opened at $7.45 on Tuesday. Lumen Technologies, Inc. has a 52 week low of $3.01 and a 52 week high of $11.95. The firm has a 50-day moving average price of $8.07 and a two-hundred day moving average price of $7.37. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of -4.28 and a beta of 1.51.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. The firm had revenue of $3.04 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 14.02%.The company’s revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. As a group, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

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.