Prudential Financial Inc. Has $5.47 Million Position in Lumen Technologies, Inc. (NYSE:LUMN)

Prudential Financial Inc. lessened its holdings in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,030,211 shares of the technology company's stock after selling 148,029 shares during the period. Prudential Financial Inc. owned 0.10% of Lumen Technologies worth $5,470,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC raised its holdings in Lumen Technologies by 120.2% during the third quarter. Cerity Partners LLC now owns 113,025 shares of the technology company's stock valued at $802,000 after buying an additional 61,689 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Lumen Technologies by 9.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 557,868 shares of the technology company's stock valued at $3,961,000 after acquiring an additional 48,007 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Lumen Technologies in the 3rd quarter worth approximately $733,000. Townsquare Capital LLC boosted its position in Lumen Technologies by 79.7% during the third quarter. Townsquare Capital LLC now owns 34,582 shares of the technology company's stock worth $246,000 after purchasing an additional 15,342 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in Lumen Technologies by 51.6% during the third quarter. Glenmede Trust Co. NA now owns 23,961 shares of the technology company's stock valued at $170,000 after purchasing an additional 8,152 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

LUMN has been the subject of a number of 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 research note on Monday, February 10th. Citigroup upgraded shares of Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their price target for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Finally, Wells Fargo & Company raised Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target on the stock in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Lumen Technologies has an average rating of "Hold" and an average price target of $4.59.

Lumen Technologies Stock Performance

Shares of LUMN traded down $0.53 during trading hours on Thursday, reaching $3.50. 14,393,642 shares of the company traded hands, compared to its average volume of 18,945,108. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The stock's fifty day moving average is $4.78 and its 200 day moving average is $6.00. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The stock has a market cap of $3.58 billion, a P/E ratio of -69.89 and a beta of 1.29.

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%. Equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Lumen Technologies 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.