150,828 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Bought by Natixis Advisors LLC

Natixis Advisors LLC bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 150,828 shares of the technology company’s stock, valued at approximately $1,071,000.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Lumen Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company’s stock worth $187,673,000 after acquiring an additional 1,975,400 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Lumen Technologies in the first quarter valued at $468,000. Price T Rowe Associates Inc. MD increased its stake in Lumen Technologies by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 827,518 shares of the technology company’s stock valued at $1,291,000 after purchasing an additional 36,559 shares during the last quarter. SG Americas Securities LLC lifted its position in Lumen Technologies by 527.6% during the second quarter. SG Americas Securities LLC now owns 399,656 shares of the technology company’s stock worth $440,000 after buying an additional 335,971 shares during the period. Finally, Sawgrass Asset Management LLC boosted its stake in Lumen Technologies by 68.5% in the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after buying an additional 9,263 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LUMN. TD Cowen dropped their price objective on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $1.75 to $4.00 in a report on Friday, August 16th. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Bank of America raised their price target on shares of Lumen Technologies from $1.00 to $2.00 and gave the company an “underperform” rating in a report on Thursday, August 8th. Finally, Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $1.25 to $3.15 in a research note on Tuesday, August 6th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.02.

Insider Buying and Selling

In related news, Director James Fowler purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the purchase, the director now owns 384,056 shares in the company, valued at approximately $1,805,063.20. This represents a 2.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.68% of the company’s stock.

Lumen Technologies Stock Down 1.9 %

Shares of NYSE:LUMN opened at $7.63 on Wednesday. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of -3.52 and a beta of 1.21. The company has a 50 day moving average of $7.18 and a two-hundred day moving average of $4.32. 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 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the previous year, the business posted ($0.09) earnings per share. Lumen Technologies’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, analysts forecast that Lumen Technologies, Inc. will post -0.38 earnings per share for the current fiscal year.

Lumen Technologies Company 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.