Vaughan Nelson Investment Management L.P. Raises Position in Lumen Technologies, Inc. $LUMN

Vaughan Nelson Investment Management L.P. increased its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 11.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,300,565 shares of the technology company’s stock after buying an additional 532,265 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Lumen Technologies were worth $36,839,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new position in Lumen Technologies during the 4th quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in Lumen Technologies in the fourth quarter valued at approximately $30,000. Fifth Third Bancorp grew its position in Lumen Technologies by 24.5% in the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after acquiring an additional 1,051 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $35,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Lumen Technologies by 3,093.3% during the fourth quarter. Hantz Financial Services Inc. now owns 6,227 shares of the technology company’s stock worth $48,000 after purchasing an additional 6,032 shares in the last quarter. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Trading Down 0.5%

Lumen Technologies stock opened at $8.16 on Monday. The stock has a market cap of $8.41 billion, a P/E ratio of -4.69 and a beta of 1.70. The stock has a 50 day moving average of $9.04 and a 200-day moving average of $8.17. Lumen Technologies, Inc. has a 52 week low of $3.37 and a 52 week high of $11.95.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.34). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. The company’s revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.13) EPS. As a group, equities analysts predict that Lumen Technologies, Inc. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a report on Tuesday, April 21st. JPMorgan Chase & Co. upped their price objective on shares of Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. TD Cowen raised their target price on Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Finally, UBS Group lifted their target price on Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Ten analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $7.91.

Lumen Technologies Company Profile

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.