BI Asset Management Fondsmaeglerselskab A S Makes New $2.14 Million Investment in Lumen Technologies, Inc. $LUMN

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, HoldingsChannel.com reports. The fund bought 275,662 shares of the technology company’s stock, valued at approximately $2,142,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Lumen Technologies by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after purchasing an additional 1,295,177 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Lumen Technologies by 58.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock worth $37,050,000 after purchasing an additional 1,755,368 shares during the last quarter. Private Advisory Group LLC purchased a new stake in Lumen Technologies during the 4th quarter worth approximately $1,200,000. Public Sector Pension Investment Board grew its position in Lumen Technologies by 5.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,682,348 shares of the technology company’s stock worth $22,536,000 after purchasing an additional 184,883 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in Lumen Technologies by 210.6% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock worth $4,372,000 after purchasing an additional 381,391 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

LUMN opened at $9.02 on Tuesday. The firm has a fifty day moving average price of $8.77 and a 200 day moving average price of $8.14. Lumen Technologies, Inc. has a 1 year low of $3.37 and a 1 year high of $11.95. The stock has a market cap of $9.29 billion, a P/E ratio of -5.18 and a beta of 1.70.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on LUMN. 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 report on Monday, May 11th. Wells Fargo & Company upped their price objective on shares of Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Zacks Research downgraded shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. TD Cowen upped their price objective on shares of Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Finally, UBS Group upped their price objective on shares of Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Ten research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target 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.