Intech Investment Management LLC Has $5.74 Million Position in Lumen Technologies, Inc. $LUMN

Intech Investment Management LLC lifted its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 938,006 shares of the technology company’s stock after buying an additional 88,336 shares during the period. Intech Investment Management LLC owned about 0.09% of Lumen Technologies worth $5,741,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LUMN. Bessemer Group Inc. grew its stake in Lumen Technologies by 15.5% during the 3rd quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock valued at $43,000 after acquiring an additional 968 shares in the last quarter. Fifth Third Bancorp boosted its holdings 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. Arkadios Wealth Advisors increased its stake in Lumen Technologies by 10.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock valued at $87,000 after buying an additional 1,340 shares during the period. UMB Bank n.a. lifted its position in Lumen Technologies by 49.1% in the 3rd quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after buying an additional 1,351 shares in the last quarter. Finally, Phoenix Financial Ltd. boosted its stake in shares of Lumen Technologies by 2.8% during the 3rd quarter. Phoenix Financial Ltd. now owns 53,515 shares of the technology company’s stock valued at $328,000 after buying an additional 1,473 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lumen Technologies news, CEO Kathleen E. Johnson purchased 78,685 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was bought at an average cost of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the acquisition, the chief executive officer directly owned 8,562,582 shares in the company, valued at $54,372,395.70. This represents a 0.93% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diankha Linear sold 45,000 shares of the firm’s stock in a transaction 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 owned 198,229 shares in the company, valued at approximately $1,564,026.81. The trade was a 18.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on LUMN shares. Wall Street Zen cut Lumen Technologies from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank Of Canada lifted their price target on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. The Goldman Sachs Group increased their price objective on Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. Finally, 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 note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.25.

Lumen Technologies Trading Up 0.7%

NYSE LUMN opened at $7.09 on Friday. The company has a market cap of $7.26 billion, a P/E ratio of -4.07 and a beta of 1.51. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $11.95. The company has a fifty day simple moving average of $8.01 and a 200 day simple moving average of $7.44.

Lumen Technologies (NYSE:LUMN) last released 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 during the quarter, compared to analyst estimates of $3.04 billion. Lumen Technologies had a negative net margin of 14.02% and a negative return on equity of 158.40%. The business’s revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. Equities research analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

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.