Not gonna argue that- as a non-Catholic I understand the Lutherans, Anglicans and Episcopals share some terminology with Catholicism.
Not a phrase I’ve heard although I referred to the concept earlier.
Do the Lutherans and old Anglicans believe in Transubstantiation of the Elements?
well, actually a lot more than that -- and I would say conservative Lutherans and Anglicans --> neither we nor our conservative Anglican/Lutheran brethren would like to be associated with the gay-marriage ECUSA or ELCA!
But to the point, both Lutherans and Anglicans share the same belief with orthodoxy on Baptism, Communion as a sacrament and also they have somewhat of a belief in the Sacrament of Penance.
On the matter of the Eucharist -- yes and no. Lutherans and conservative Anglicans believe in the Real Presence, i.e. that Jesus Christ is really present in the Eucharst, not just a symbol. However they do not use the term transubstantiation and the Lutherans prefer not to use the term consubstantiation. There is a difference in what each believe exactly "happens" to put it badly, but we all believe that Jesus Christ is really and truly present.