Federated Hermes Inc. Sells 338,245 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Federated Hermes Inc. trimmed its position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 25.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 967,621 shares of the technology company's stock after selling 338,245 shares during the quarter. Federated Hermes Inc. owned approximately 0.10% of Lumen Technologies worth $5,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in Lumen Technologies by 173.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock valued at $36,000 after purchasing an additional 4,277 shares during the last quarter. R Squared Ltd acquired a new stake in Lumen Technologies in the 4th quarter valued at about $48,000. HB Wealth Management LLC acquired a new position in shares of Lumen Technologies during the fourth quarter worth approximately $59,000. M&T Bank Corp bought a new position in Lumen Technologies in the 4th quarter worth approximately $66,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Stock Down 3.5 %

LUMN stock traded down $0.12 during trading hours on Wednesday, reaching $3.28. 5,799,873 shares of the stock were exchanged, compared to its average volume of 19,086,366. The company has a market cap of $3.36 billion, a price-to-earnings ratio of -65.59 and a beta of 1.29. The firm's 50-day moving average is $4.42 and its 200-day moving average is $5.75. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

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Lumen Technologies (NYSE:LUMN - Get Free Report) last released its 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%. On average, equities research analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LUMN has been the topic of several analyst reports. Royal Bank of Canada restated a "sector perform" rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price on the stock in a research note on Friday, February 21st. Finally, Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and cut their price target for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $4.59.

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.