Lumen Technologies, Inc. (NYSE:LUMN) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC lowered its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 63.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,864 shares of the technology company’s stock after selling 19,056 shares during the quarter. NorthRock Partners LLC’s holdings in Lumen Technologies were worth $58,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LUMN. Assenagon Asset Management S.A. boosted its holdings in shares of Lumen Technologies by 8.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company’s stock valued at $4,967,000 after acquiring an additional 73,841 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Lumen Technologies in the fourth quarter valued at $111,000. HB Wealth Management LLC acquired a new stake in Lumen Technologies during the 4th quarter worth about $59,000. Polianta Ltd purchased a new position in shares of Lumen Technologies during the 4th quarter valued at about $692,000. Finally, Ballentine Partners LLC lifted its holdings in shares of Lumen Technologies by 14.8% in the 4th quarter. Ballentine Partners LLC now owns 30,074 shares of the technology company’s stock valued at $160,000 after buying an additional 3,868 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price for the company in a report on Friday, February 21st. Raymond James raised shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price objective for the company in a report on Monday, May 5th. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.58.

Lumen Technologies Stock Performance

LUMN opened at $4.11 on Monday. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The firm has a market capitalization of $4.21 billion, a PE ratio of -82.08 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. The firm’s 50-day moving average price is $3.95 and its 200 day moving average price is $5.31.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 EPS 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.