Prudential Financial Inc. Has $5.47 Million Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Prudential Financial Inc. reduced its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 12.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,030,211 shares of the technology company’s stock after selling 148,029 shares during the period. Prudential Financial Inc. owned about 0.10% of Lumen Technologies worth $5,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in Lumen Technologies in the third quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Lumen Technologies during the third quarter worth about $36,000. Smartleaf Asset Management LLC increased its stake in shares of Lumen Technologies by 173.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after buying an additional 4,277 shares during the period. R Squared Ltd bought a new position in Lumen Technologies in the 4th quarter valued at approximately $48,000. Finally, HB Wealth Management LLC acquired a new stake in Lumen Technologies during the 4th quarter worth approximately $59,000. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Performance

Shares of Lumen Technologies stock opened at $3.94 on Tuesday. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. 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 business has a 50-day moving average price of $4.85 and a two-hundred day moving average price of $6.03. The company has a market cap of $4.04 billion, a P/E ratio of -78.78 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. As a group, analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LUMN shares. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and dropped their price target for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price for the company in a research report on Friday, February 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price target 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 issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Lumen Technologies has a consensus rating of “Hold” and an average target price of $4.59.

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.