Allianz Asset Management GmbH Purchases 1,710,373 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Allianz Asset Management GmbH lifted its position in Lumen Technologies, Inc. (NYSE:LUMN) by 28.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,790,277 shares of the technology company’s stock after acquiring an additional 1,710,373 shares during the quarter. Allianz Asset Management GmbH owned 0.77% of Lumen Technologies worth $41,366,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Stephens Inc. AR lifted its holdings in shares of Lumen Technologies by 7.7% in the 3rd quarter. Stephens Inc. AR now owns 27,070 shares of the technology company’s stock worth $192,000 after acquiring an additional 1,935 shares during the last quarter. Concord Wealth Partners lifted its holdings in Lumen Technologies by 98.8% during the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after buying an additional 1,992 shares in the last quarter. US Bancorp DE lifted its holdings in Lumen Technologies by 18.6% during the 3rd quarter. US Bancorp DE now owns 15,012 shares of the technology company’s stock valued at $107,000 after buying an additional 2,350 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Lumen Technologies by 23.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 13,367 shares of the technology company’s stock valued at $95,000 after buying an additional 2,554 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in Lumen Technologies by 6.8% during the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock valued at $222,000 after buying an additional 2,657 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Down 0.3 %

Shares of Lumen Technologies stock opened at $4.68 on Friday. The firm’s 50 day moving average price is $5.34 and its 200-day moving average price is $6.19. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. The company has a market cap of $4.74 billion, a P/E ratio of -93.48 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping 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 -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. 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 report on Friday. The Goldman Sachs Group lifted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. TD Cowen decreased their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Citigroup raised their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Lumen Technologies presently has an average rating of “Hold” and an average target price of $4.78.

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.