Vaughan Nelson Investment Management L.P. Acquires 1,755,368 Shares of Lumen Technologies, Inc. $LUMN

Vaughan Nelson Investment Management L.P. grew its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 58.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,768,300 shares of the technology company’s stock after purchasing an additional 1,755,368 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Lumen Technologies were worth $37,050,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Prudential Financial Inc. lifted its holdings in Lumen Technologies by 10.5% during the second quarter. Prudential Financial Inc. now owns 1,099,473 shares of the technology company’s stock worth $4,816,000 after buying an additional 104,362 shares during the period. Vanguard Group Inc. raised its position in shares of Lumen Technologies by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after acquiring an additional 1,295,177 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Lumen Technologies by 5.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 10,056,824 shares of the technology company’s stock worth $61,548,000 after acquiring an additional 536,324 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Lumen Technologies by 5.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,682,348 shares of the technology company’s stock worth $22,536,000 after purchasing an additional 184,883 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in Lumen Technologies by 1,088.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 297,132 shares of the technology company’s stock valued at $1,818,000 after purchasing an additional 272,132 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. The Goldman Sachs Group increased their target price on shares of Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Citigroup lowered their target price on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Finally, Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $7.25.

Insider Buying and Selling at Lumen Technologies

In other news, Director Diankha Linear sold 45,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $7.89, for a total transaction of $355,050.00. Following the sale, the director directly owned 198,229 shares of the company’s stock, valued at $1,564,026.81. The trade was a 18.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kathleen E. Johnson bought 78,685 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was purchased at an average cost of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the transaction, the chief executive officer owned 8,562,582 shares in the company, valued at $54,372,395.70. This trade represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.30% of the company’s stock.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $6.40 on Tuesday. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $11.95. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of -3.68 and a beta of 1.56. The stock’s 50-day simple moving average is $7.48 and its 200-day simple moving average is $7.73.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, February 3rd. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Lumen Technologies had a negative net margin of 14.02% and a negative return on equity of 158.40%. Lumen Technologies’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

About Lumen Technologies

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.