Congress Asset Management Co. Boosts Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Congress Asset Management Co. boosted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 421,720 shares of the technology company's stock after acquiring an additional 56,589 shares during the quarter. Congress Asset Management Co.'s holdings in Lumen Technologies were worth $2,239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LUMN. Hennessy Advisors Inc. acquired a new position in shares of Lumen Technologies in the 4th quarter valued at about $45,089,000. Victory Capital Management Inc. lifted its holdings in shares of Lumen Technologies by 1,081.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company's stock valued at $16,819,000 after buying an additional 2,168,325 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Lumen Technologies in the 3rd quarter valued at about $10,062,000. FORA Capital LLC acquired a new position in shares of Lumen Technologies in the 3rd quarter valued at about $2,909,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Lumen Technologies by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company's stock valued at $165,776,000 after buying an additional 383,693 shares during the period. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Price Performance

NYSE:LUMN traded down $0.02 during trading hours on Friday, hitting $4.68. 13,124,824 shares of the stock were exchanged, compared to its average volume of 12,003,081. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. The firm's fifty day moving average price is $5.34 and its 200 day moving average price is $6.18. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The company has a market cap of $4.74 billion, a P/E ratio of -93.48 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping 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%. As a group, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LUMN. Royal Bank of Canada reissued a "sector perform" rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Citigroup boosted their price objective on Lumen Technologies from $6.50 to $8.00 and gave the company a "neutral" rating in a report on Friday, November 29th. The Goldman Sachs Group upped their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a report on Friday. Finally, TD Cowen reduced their price target on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, Lumen Technologies has an average rating of "Hold" and an average target price of $4.78.

Lumen Technologies Company Profile

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.