Vaughan Nelson Investment Management L.P. Acquires Shares of 3,012,932 Lumen Technologies, Inc. $LUMN

Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,012,932 shares of the technology company’s stock, valued at approximately $18,439,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Front Street Capital Management Inc. increased its holdings in shares of Lumen Technologies by 1.1% in the second quarter. Front Street Capital Management Inc. now owns 11,969,084 shares of the technology company’s stock worth $52,425,000 after purchasing an additional 132,131 shares during the last quarter. Man Group plc boosted its stake in shares of Lumen Technologies by 3.3% during the 2nd quarter. Man Group plc now owns 11,486,835 shares of the technology company’s stock worth $50,312,000 after purchasing an additional 364,436 shares during the period. Norges Bank bought a new position in shares of Lumen Technologies during the second quarter valued at approximately $47,923,000. Invesco Ltd. boosted its stake in shares of Lumen Technologies by 6.3% during the second quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock valued at $47,869,000 after purchasing an additional 652,124 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in Lumen Technologies by 8.5% in the second quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock worth $41,700,000 after purchasing an additional 748,185 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LUMN. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Royal Bank Of Canada boosted their price target on shares of Lumen Technologies from $4.25 to $8.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.72.

Lumen Technologies Stock Down 4.8%

NYSE LUMN opened at $7.91 on Thursday. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of -4.79 and a beta of 1.46. The business has a fifty day moving average of $8.51 and a 200-day moving average of $6.47. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. The company had revenue of $4.05 billion for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%. As a group, analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.