Madison Investment Advisors LLC Purchases New Shares in Lumen Technologies, Inc. (NYSE:LUMN)

Madison Investment Advisors LLC purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 124,000 shares of the technology company’s stock, valued at approximately $658,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of LUMN. Hennessy Advisors Inc. purchased a new stake in Lumen Technologies in the fourth quarter worth $45,089,000. Allianz Asset Management GmbH increased its stake in Lumen Technologies by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock worth $41,366,000 after purchasing an additional 1,710,373 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Lumen Technologies by 23.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company’s stock worth $21,399,000 after purchasing an additional 764,523 shares during the period. Sequoia Financial Advisors LLC increased its stake in Lumen Technologies by 46.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company’s stock worth $11,055,000 after purchasing an additional 664,823 shares during the period. Finally, FORA Capital LLC purchased a new position in shares of Lumen Technologies during the third quarter valued at $2,909,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

Shares of LUMN stock opened at $4.94 on Friday. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The stock’s 50-day moving average is $5.01 and its 200 day moving average is $6.08. The company has a market cap of $5.00 billion, a P/E ratio of -98.68 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping 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%. Research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LUMN shares. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a research note on Friday, February 21st. Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and cut their price target for the company 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 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Lumen Technologies presently has an average rating of “Hold” and an average price target of $4.59.

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.