M&T Bank Corp Purchases New Position in Lumen Technologies, Inc. (NYSE:LUMN)

M&T Bank Corp purchased a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,516 shares of the technology company’s stock, valued at approximately $66,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. acquired a new stake in Lumen Technologies in the 4th quarter valued at about $45,089,000. Victory Capital Management Inc. increased its position in Lumen Technologies by 1,081.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock valued at $16,819,000 after acquiring an additional 2,168,325 shares in the last quarter. Allianz Asset Management GmbH increased its position in Lumen Technologies by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock valued at $41,366,000 after acquiring an additional 1,710,373 shares in the last quarter. FORA Capital LLC acquired a new stake in Lumen Technologies in the 3rd quarter valued at about $2,909,000. Finally, Geode Capital Management LLC grew its position in shares of 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 buying an additional 383,693 shares during the period. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Up 4.8 %

Shares of NYSE LUMN opened at $4.88 on Friday. The stock has a market cap of $4.94 billion, a P/E ratio of -97.48 and a beta of 1.28. The firm has a 50 day moving average price of $5.07 and a 200 day moving average price of $6.09. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating 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%. Analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LUMN shares. Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target for the company in a research report on Friday, February 21st. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $8.00 to $6.50 in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Lumen Technologies has an average rating of “Hold” and an average target price of $4.59.

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.