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

Vaughan Nelson Investment Management L.P. raised its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 58.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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. owned 0.46% of Lumen Technologies worth $37,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Lumen Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock worth $2,363,000 after acquiring an additional 26,305 shares in the last quarter. Empowered Funds LLC raised its position in Lumen Technologies by 26.8% during the first quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock valued at $1,066,000 after purchasing an additional 57,522 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Lumen Technologies by 11.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock valued at $11,702,000 after purchasing an additional 300,328 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Lumen Technologies by 15.8% in the 2nd quarter. Cetera Investment Advisers now owns 119,673 shares of the technology company’s stock worth $524,000 after purchasing an additional 16,332 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Lumen Technologies by 60.0% in the 2nd quarter. Franklin Resources Inc. now owns 1,165,301 shares of the technology company’s stock worth $5,104,000 after purchasing an additional 437,163 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Down 4.1%

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

Lumen Technologies (NYSE:LUMN) last posted its quarterly 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. 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 analysts’ expectations of $3.04 billion. During the same period in the prior year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. Research analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

LUMN has been the topic of several recent research reports. UBS Group increased their price target on Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Citigroup cut their price objective 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. The Goldman Sachs Group raised their target price on shares of Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. Finally, Raymond James Financial reissued a “market perform” rating on shares of Lumen Technologies in a research report on Wednesday, February 4th. One research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.25.

Insider Buying and Selling

In related news, CEO Kathleen E. Johnson purchased 78,685 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was purchased at an average price of $6.35 per share, with a total value of $499,649.75. Following the completion of the purchase, the chief executive officer owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. The trade was a 0.93% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Diankha Linear sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $7.89, for a total value of $355,050.00. Following the completion of the sale, the director 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 disclosure for this sale is available in the SEC filing. Company insiders own 2.30% of the company’s stock.

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.