Front Street Capital Management Inc. Acquires 15,757 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Front Street Capital Management Inc. lifted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 0.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,825,502 shares of the technology company’s stock after buying an additional 15,757 shares during the quarter. Lumen Technologies makes up approximately 10.9% of Front Street Capital Management Inc.’s investment portfolio, making the stock its largest position. Front Street Capital Management Inc.’s holdings in Lumen Technologies were worth $62,793,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Lumen Technologies in the fourth quarter valued at about $63,638,000. Hennessy Advisors Inc. purchased a new stake in Lumen Technologies in the 4th quarter valued at approximately $45,089,000. Renaissance Technologies LLC increased its position in Lumen Technologies by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock worth $61,936,000 after purchasing an additional 5,049,709 shares during the period. Trexquant Investment LP purchased a new position in shares of Lumen Technologies during the 4th quarter worth approximately $12,930,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Lumen Technologies by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock valued at $41,366,000 after buying an additional 1,710,373 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

LUMN stock opened at $3.28 on Friday. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The firm has a market cap of $3.36 billion, a P/E ratio of -65.49 and a beta of 1.29. The stock’s 50 day moving average price is $4.35 and its 200 day moving average price is $5.71. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21.

Lumen Technologies (NYSE:LUMN) last released its quarterly 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 net margin of 0.42% and a negative return on equity of 46.17%. On average, sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LUMN shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price objective for the company in a research note on Friday, February 21st. Finally, Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their price target 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 given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.59.

About Lumen Technologies

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.