Argent Trust Co reduced its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 49.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,460 shares of the technology company's stock after selling 103,457 shares during the period. Argent Trust Co's holdings in Lumen Technologies were worth $571,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Lumen Technologies by 173.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock worth $36,000 after purchasing an additional 4,277 shares during the last quarter. R Squared Ltd acquired a new position in shares of Lumen Technologies in the 4th quarter valued at about $48,000. HB Wealth Management LLC purchased a new stake in shares of Lumen Technologies in the fourth quarter worth about $59,000. M&T Bank Corp purchased a new position in Lumen Technologies during the fourth quarter valued at approximately $66,000. Finally, Whipplewood Advisors LLC acquired a new position in Lumen Technologies in the fourth quarter valued at approximately $67,000. 66.19% of the stock is owned by hedge funds and other institutional investors.
Lumen Technologies Price Performance
LUMN traded down $0.07 on Tuesday, reaching $3.41. 7,108,215 shares of the company's stock were exchanged, compared to its average volume of 19,131,014. The stock has a market cap of $3.49 billion, a PE ratio of -68.09 and a beta of 1.29. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The stock's fifty day moving average price is $4.42 and its 200-day moving average price is $5.75.
Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a research note on Friday, February 21st. Finally, Citigroup raised Lumen Technologies from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $4.59.
Check Out Our Latest Report on Lumen Technologies
About Lumen Technologies
(
Free Report)
Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.
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