Franklin Resources Inc. Raises Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Franklin Resources Inc. raised its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 66.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 560,793 shares of the technology company's stock after purchasing an additional 224,506 shares during the period. Franklin Resources Inc. owned 0.06% of Lumen Technologies worth $3,982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Stephens Inc. AR raised its stake in Lumen Technologies by 7.7% during the third quarter. Stephens Inc. AR now owns 27,070 shares of the technology company's stock valued at $192,000 after purchasing an additional 1,935 shares in the last quarter. Concord Wealth Partners raised its position in shares of Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock valued at $28,000 after buying an additional 1,992 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Lumen Technologies by 18.6% in the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company's stock valued at $107,000 after acquiring an additional 2,350 shares during the last quarter. Xponance Inc. grew its position in Lumen Technologies by 4.0% in the second quarter. Xponance Inc. now owns 64,444 shares of the technology company's stock worth $71,000 after acquiring an additional 2,487 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its stake in Lumen Technologies by 23.6% during the third quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company's stock worth $95,000 after acquiring an additional 2,554 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company's stock.

Lumen Technologies Trading Down 0.3 %

LUMN stock traded down $0.02 during mid-day trading on Wednesday, reaching $5.82. The company had a trading volume of 4,495,492 shares, compared to its average volume of 19,271,461. The company has a market capitalization of $5.91 billion, a PE ratio of -2.68 and a beta of 1.21. The firm has a 50 day moving average of $7.12 and a 200 day moving average of $5.10. 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 53.05, a current ratio of 1.20 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The firm's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. On average, equities analysts predict that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup lifted their target price on Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $4.25 price objective (up from $4.00) on shares of Lumen Technologies in a research note on Friday, December 20th. TD Cowen lowered their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $4.66.

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.