Sterling Capital Management LLC Grows Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Sterling Capital Management LLC raised its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 4,803.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 172,097 shares of the technology company’s stock after acquiring an additional 168,587 shares during the period. Sterling Capital Management LLC’s holdings in Lumen Technologies were worth $914,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of LUMN. Smartleaf Asset Management LLC increased its holdings in shares of Lumen Technologies by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after purchasing an additional 4,277 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Lumen Technologies in the 4th quarter worth $48,000. HB Wealth Management LLC purchased a new position in shares of Lumen Technologies during the 4th quarter worth $59,000. M&T Bank Corp purchased a new stake in shares of Lumen Technologies in the fourth quarter valued at about $66,000. Finally, Whipplewood Advisors LLC acquired a new stake in Lumen Technologies during the fourth quarter worth about $67,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Lumen Technologies Stock Down 1.9 %

NYSE:LUMN opened at $3.41 on Wednesday. Lumen Technologies, Inc. has a 52 week low of $0.97 and a 52 week high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The stock’s fifty day moving average is $4.42 and its two-hundred day moving average is $5.75. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -68.09 and a beta of 1.29.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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%. Research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

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.