Franklin Resources Inc. Has $5.10 Million Stake in Lumen Technologies, Inc. $LUMN

Franklin Resources Inc. increased its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 60.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,165,301 shares of the technology company’s stock after purchasing an additional 437,163 shares during the quarter. Franklin Resources Inc.’s holdings in Lumen Technologies were worth $5,104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LUMN. Invesco Ltd. grew its holdings in Lumen Technologies by 91.6% during the 1st quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company’s stock worth $40,285,000 after acquiring an additional 4,911,803 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Lumen Technologies by 8.5% during the second quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock worth $41,700,000 after purchasing an additional 748,185 shares during the period. Nuveen LLC bought a new stake in Lumen Technologies in the first quarter valued at about $26,469,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Lumen Technologies by 19.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,613,499 shares of the technology company’s stock valued at $20,207,000 after buying an additional 757,082 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in Lumen Technologies by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 3,218,230 shares of the technology company’s stock worth $12,615,000 after buying an additional 689,843 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LUMN has been the subject of a number of recent analyst reports. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. The Goldman Sachs Group increased their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Finally, Citigroup lowered Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.72.

Lumen Technologies Trading Up 1.9%

Shares of NYSE:LUMN opened at $8.26 on Tuesday. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of -7.00 and a beta of 1.45. Lumen Technologies, Inc. has a 12 month low of $3.01 and a 12 month high of $11.95. The company’s fifty day simple moving average is $7.95 and its 200 day simple moving average is $5.70. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The firm had revenue of $4.05 billion during the quarter. As a group, research analysts forecast 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.