Southeast Asset Advisors LLC Has $359,000 Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Southeast Asset Advisors LLC lowered its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 47.7% in the fourth quarter, HoldingsChannel reports. The firm owned 67,650 shares of the technology company’s stock after selling 61,787 shares during the period. Southeast Asset Advisors LLC’s holdings in Lumen Technologies were worth $359,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LUMN. Geode Capital Management LLC grew its holdings in Lumen Technologies by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock worth $165,776,000 after acquiring an additional 383,693 shares during the last quarter. Norges Bank acquired a new position in shares of Lumen Technologies during the fourth quarter worth approximately $63,638,000. Hennessy Advisors Inc. bought a new stake in shares of Lumen Technologies during the fourth quarter valued at approximately $45,089,000. Allianz Asset Management GmbH increased its holdings in shares of 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 valued at $41,366,000 after purchasing an additional 1,710,373 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Lumen Technologies by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 4,921,381 shares of the technology company’s stock worth $26,133,000 after purchasing an additional 128,172 shares during the last quarter. 66.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LUMN has been the subject of several research reports. 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 note on Friday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and a consensus price target of $4.59.

Lumen Technologies Trading Down 6.4 %

LUMN opened at $3.28 on Monday. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The firm has a market cap of $3.36 billion, a PE ratio of -65.49 and a beta of 1.29. 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 firm’s fifty day moving average is $4.69 and its two-hundred day moving average is $5.96.

Lumen Technologies (NYSE:LUMN) last posted its 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%. Equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Lumen Technologies 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.