Argent Advisors Inc. Has $103,000 Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Argent Advisors Inc. boosted its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 12.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,937 shares of the technology company’s stock after buying an additional 10,400 shares during the quarter. Argent Advisors Inc.’s holdings in Lumen Technologies were worth $103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cerity Partners LLC increased its holdings in shares of Lumen Technologies by 60.5% during the fourth quarter. Cerity Partners LLC now owns 33,944 shares of the technology company’s stock worth $62,000 after buying an additional 12,794 shares in the last quarter. Strs Ohio increased its holdings in Lumen Technologies by 50.9% in the 4th quarter. Strs Ohio now owns 179,900 shares of the technology company’s stock worth $329,000 after purchasing an additional 60,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 purchasing an additional 12,411 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Lumen Technologies by 25.9% during the fourth quarter. Handelsbanken Fonder AB now owns 139,400 shares of the technology company’s stock valued at $255,000 after purchasing an additional 28,700 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Lumen Technologies by 9.1% during the fourth quarter. Yousif Capital Management LLC now owns 775,742 shares of the technology company’s stock worth $1,420,000 after purchasing an additional 64,490 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Up 1.5 %

LUMN traded up $0.08 during trading on Friday, hitting $5.25. 17,201,984 shares of the company’s stock were exchanged, compared to its average volume of 20,488,779. The stock has a market cap of $5.33 billion, a P/E ratio of -0.48 and a beta of 1.14. The business’s 50 day moving average is $3.08 and its two-hundred day moving average is $1.99. Lumen Technologies, Inc. has a fifty-two week low of $0.78 and a fifty-two week high of $7.83. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 36.89.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. Lumen Technologies had a negative net margin of 76.21% and a positive return on equity of 4.06%. Lumen Technologies’s revenue was down 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. As a group, equities analysts expect that Lumen Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on LUMN. The Goldman Sachs Group upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $1.00 to $4.00 in a research report on Wednesday, August 7th. Citigroup raised 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. JPMorgan Chase & Co. upgraded Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. UBS Group upped their price target on Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, TD Cowen raised their price objective on Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, Lumen Technologies has an average rating of “Hold” and a consensus price target of $3.74.

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.