Federated Hermes Inc. Increases Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Federated Hermes Inc. grew its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 798.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,438,386 shares of the technology company’s stock after buying an additional 1,278,319 shares during the period. Federated Hermes Inc. owned 0.14% of Lumen Technologies worth $2,632,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Lumen Technologies by 7.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 188,638 shares of the technology company’s stock valued at $345,000 after buying an additional 12,411 shares during the last quarter. Everence Capital Management Inc. raised its holdings in shares of Lumen Technologies by 75.1% in the fourth quarter. Everence Capital Management Inc. now owns 162,730 shares of the technology company’s stock valued at $298,000 after buying an additional 69,820 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Lumen Technologies by 536.3% in the fourth quarter. Mackenzie Financial Corp now owns 409,448 shares of the technology company’s stock valued at $749,000 after buying an additional 345,098 shares during the last quarter. Strs Ohio increased its stake in shares of Lumen Technologies by 50.9% during the fourth quarter. Strs Ohio now owns 179,900 shares of the technology company’s stock worth $329,000 after acquiring an additional 60,700 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Lumen Technologies during the fourth quarter worth about $924,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lumen Technologies

In related news, Director James Fowler bought 30,000 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $1.50 per share, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 183,038 shares of the company’s stock, valued at approximately $274,557. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director James Fowler bought 30,000 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $1.50 per share, for a total transaction of $45,000.00. Following the completion of the transaction, the director now owns 183,038 shares of the company’s stock, valued at approximately $274,557. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director T Michael Glenn bought 50,000 shares of the stock in a transaction on Monday, February 26th. The shares were bought at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the completion of the transaction, the director now directly owns 272,019 shares of the company’s stock, valued at approximately $399,867.93. The disclosure for this purchase can be found here. Insiders have bought a total of 113,500 shares of company stock worth $174,780 over the last ninety days. 1.68% of the stock is currently owned by company insiders.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $1.21 on Friday. Lumen Technologies, Inc. has a 52-week low of $0.78 and a 52-week high of $2.70. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 47.56. The company’s 50-day simple moving average is $1.52 and its 200-day simple moving average is $1.48. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -0.12 and a beta of 1.10.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.11. Lumen Technologies had a negative net margin of 70.74% and a positive return on equity of 4.85%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the business posted $0.43 earnings per share. The business’s revenue was down 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Lumen Technologies, Inc. will post -0.24 earnings per share for the current 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.