NorthRock Partners LLC Sells 19,056 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

NorthRock Partners LLC trimmed its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 63.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LUMN. Smartleaf Asset Management LLC boosted its position in shares of Lumen Technologies by 173.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock valued at $36,000 after purchasing an additional 4,277 shares in the last quarter. Lazard Asset Management LLC lifted its position in Lumen Technologies by 3,825.7% during the fourth quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company’s stock valued at $39,000 after buying an additional 7,307 shares during the period. R Squared Ltd bought a new stake in shares of Lumen Technologies during the 4th quarter valued at $48,000. Seeds Investor LLC purchased a new stake in shares of Lumen Technologies in the 4th quarter worth about $57,000. Finally, HB Wealth Management LLC bought a new position in shares of Lumen Technologies in the 4th quarter worth about $59,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analyst Ratings Changes

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

Lumen Technologies Price Performance

Shares of Lumen Technologies stock opened at $4.11 on Monday. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -82.08 and a beta of 1.34. 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 stock has a 50 day moving average price of $3.95 and a 200-day moving average price of $5.31. Lumen Technologies, Inc. has a one year low of $0.97 and a one year high of $10.33.

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