Lumen Technologies, Inc. (NYSE:LUMN) Stock Holdings Boosted by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 93.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,083,667 shares of the technology company’s stock after acquiring an additional 522,874 shares during the period. Franklin Resources Inc. owned 0.11% of Lumen Technologies worth $5,754,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC grew its position in Lumen Technologies by 7.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company’s stock valued at $182,000 after buying an additional 2,457 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Lumen Technologies by 20.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock worth $78,000 after purchasing an additional 2,489 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Lumen Technologies by 6.8% in the fourth quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock worth $222,000 after purchasing an additional 2,657 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in Lumen Technologies by 15.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock worth $111,000 after buying an additional 2,844 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Lumen Technologies by 8.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock valued at $207,000 after purchasing an additional 3,109 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $3.79 on Thursday. The firm has a market capitalization of $3.89 billion, a P/E ratio of -75.82 and a beta of 1.29. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The business has a 50-day moving average of $4.54 and a 200-day moving average of $5.85. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. On average, equities analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target for the company in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.59.

Lumen Technologies Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.