Lumen Technologies, Inc. $LUMN Holdings Increased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,611,749 shares of the technology company’s stock after acquiring an additional 100,577 shares during the period. Principal Financial Group Inc. owned 0.45% of Lumen Technologies worth $32,052,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 purchasing an additional 26,305 shares during the period. Empowered Funds LLC raised its stake in shares of Lumen Technologies by 26.8% in the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock worth $1,066,000 after buying an additional 57,522 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Lumen Technologies by 11.2% in the first 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 buying an additional 300,328 shares during the period. Cetera Investment Advisers boosted its stake in Lumen Technologies by 15.8% during the second quarter. Cetera Investment Advisers now owns 119,673 shares of the technology company’s stock valued at $524,000 after buying an additional 16,332 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Lumen Technologies by 6.3% during the second quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock valued at $47,869,000 after buying an additional 652,124 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company’s stock.

Lumen Technologies Trading Down 0.4%

NYSE LUMN opened at $6.25 on Monday. The stock’s 50-day moving average price is $8.42 and its two-hundred day moving average price is $8.00. The company has a market cap of $6.44 billion, a PE ratio of -3.59 and a beta of 1.75. Lumen Technologies, Inc. has a 1 year low of $3.37 and a 1 year high of $11.95.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, May 5th. The technology company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.83 billion. Lumen Technologies’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. Research analysts forecast that Lumen Technologies, Inc. will post -0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LUMN. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Zacks Research cut shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Wells Fargo & Company increased their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. UBS Group raised their target price on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, TD Cowen lifted their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Nine analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $7.91.

Lumen Technologies 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.