Federated Hermes Inc. Increases Stake in Lumen Technologies, Inc. $LUMN

Federated Hermes Inc. raised its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 19.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,799,778 shares of the technology company’s stock after acquiring an additional 613,216 shares during the quarter. Federated Hermes Inc.’s holdings in Lumen Technologies were worth $23,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of LUMN. Phoenix Financial Ltd. grew its holdings in Lumen Technologies by 2.8% during the third quarter. Phoenix Financial Ltd. now owns 53,515 shares of the technology company’s stock valued at $328,000 after purchasing an additional 1,473 shares during the period. Sage Rhino Capital LLC lifted its position in shares of Lumen Technologies by 20.8% during the 3rd quarter. Sage Rhino Capital LLC now owns 35,453 shares of the technology company’s stock valued at $217,000 after buying an additional 6,113 shares in the last quarter. AIGH Capital Management LLC bought a new position in shares of Lumen Technologies during the 3rd quarter valued at approximately $15,606,000. Y Intercept Hong Kong Ltd raised its stake in Lumen Technologies by 1,088.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 297,132 shares of the technology company’s stock worth $1,818,000 after acquiring an additional 272,132 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of Lumen Technologies by 35.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 22,546 shares of the technology company’s stock worth $138,000 after purchasing an additional 5,843 shares during the period. 66.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LUMN. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Thursday, January 22nd. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. The Goldman Sachs Group upped their price target on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Finally, Royal Bank Of Canada increased their price objective on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lumen Technologies has an average rating of “Hold” and an average price target of $6.72.

Lumen Technologies Price Performance

NYSE:LUMN opened at $8.82 on Friday. The company has a market cap of $9.04 billion, a price-to-earnings ratio of -5.34 and a beta of 1.46. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $11.95. The stock’s 50 day simple moving average is $8.24 and its two-hundred day simple moving average is $6.93.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Thursday, October 30th. The technology company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.11. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the firm posted ($0.13) earnings per share. Lumen Technologies’s revenue for the quarter was down 4.2% compared to the same quarter last year. 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.