Fifth Third Bancorp Has $1.56 Million Holdings in Lumen Technologies, Inc. $LUMN

Fifth Third Bancorp raised its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 3,775.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,216 shares of the technology company’s stock after acquiring an additional 218,430 shares during the period. Fifth Third Bancorp’s holdings in Lumen Technologies were worth $1,558,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Lumen Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock valued at $2,363,000 after purchasing an additional 26,305 shares during the period. Empowered Funds LLC increased its position in Lumen Technologies by 26.8% during the 1st quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock worth $1,066,000 after buying an additional 57,522 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Lumen Technologies by 11.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock worth $11,702,000 after buying an additional 300,328 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Lumen Technologies by 15.8% in the second quarter. Cetera Investment Advisers now owns 119,673 shares of the technology company’s stock valued at $524,000 after acquiring an additional 16,332 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Lumen Technologies by 6.3% in the second quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock valued at $47,869,000 after acquiring an additional 652,124 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Zacks Research lowered shares of Lumen Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Wells Fargo & Company increased their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. JPMorgan Chase & Co. lifted their price target 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. Finally, UBS Group increased their price target on Lumen Technologies from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Nine 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 stock has a consensus rating of “Reduce” and a consensus target price of $7.91.

Lumen Technologies Stock Down 2.7%

LUMN stock opened at $6.52 on Friday. Lumen Technologies, Inc. has a 52 week low of $3.37 and a 52 week high of $11.95. The business has a 50-day simple moving average of $8.21 and a 200 day simple moving average of $7.97. The company has a market cap of $6.72 billion, a PE ratio of -3.75 and a beta of 1.75.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data 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 business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the firm earned ($0.13) EPS. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. On average, analysts anticipate that Lumen Technologies, Inc. will post -0.39 EPS for the current fiscal year.

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.