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

Vanguard Group Inc. boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,552,549 shares of the technology company’s stock after purchasing an additional 1,295,177 shares during the period. Vanguard Group Inc. owned about 11.07% of Lumen Technologies worth $694,942,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LUMN. Norges Bank acquired a new stake in Lumen Technologies in the second quarter valued at about $47,923,000. Curi Capital LLC acquired a new stake in shares of Lumen Technologies in the 2nd quarter valued at approximately $14,144,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Lumen Technologies during the 3rd quarter valued at approximately $18,439,000. AIGH Capital Management LLC acquired a new position in Lumen Technologies during the 3rd quarter worth approximately $15,606,000. Finally, Canada Pension Plan Investment Board bought a new position in Lumen Technologies in the 2nd quarter valued at approximately $8,151,000. Institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LUMN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. Royal Bank Of Canada upped their price objective on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. The Goldman Sachs Group raised their price objective on shares of Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a report on Wednesday, February 4th. UBS Group boosted 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. Finally, Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lumen Technologies presently has an average rating of “Hold” and an average price target of $7.25.

Insiders Place Their Bets

In other news, Director Diankha Linear sold 45,000 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $7.89, for a total value of $355,050.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kathleen E. Johnson bought 78,685 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $6.35 per share, with a total value of $499,649.75. Following the purchase, the chief executive officer directly owned 8,562,582 shares of the company’s stock, valued at $54,372,395.70. This trade represents a 0.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.30% of the company’s stock.

Lumen Technologies Price Performance

Shares of LUMN stock opened at $7.45 on Tuesday. The stock has a market capitalization of $7.64 billion, a PE ratio of -4.28 and a beta of 1.51. The business’s 50 day simple moving average is $8.07 and its 200 day simple moving average is $7.37. Lumen Technologies, Inc. has a one year low of $3.01 and a one year high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Lumen Technologies had a negative net margin of 14.02% and a negative return on equity of 158.40%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company earned $0.09 EPS. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, research analysts expect 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.