Congress Asset Management Co. Boosts Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Congress Asset Management Co. raised its position in Lumen Technologies, Inc. (NYSE:LUMN) by 15.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 421,720 shares of the technology company’s stock after purchasing an additional 56,589 shares during the quarter. Congress Asset Management Co.’s holdings in Lumen Technologies were worth $2,239,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in LUMN. Sanctuary Advisors LLC bought a new stake in shares of Lumen Technologies in the 2nd quarter valued at about $25,000. Concord Wealth Partners lifted its holdings in Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,992 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Lumen Technologies during the 3rd quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Lumen Technologies in the 3rd quarter valued at about $36,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Lumen Technologies in the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analysts Set New Price Targets

LUMN has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Citigroup raised their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 29th. The Goldman Sachs Group boosted their target price on Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, TD Cowen cut their target price on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.66.

Lumen Technologies Stock Performance

Shares of LUMN opened at $4.60 on Tuesday. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The company’s 50 day simple moving average is $5.47 and its 200 day simple moving average is $6.17. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -91.88 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that Lumen Technologies, Inc. will post -0.79 EPS 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.