New York State Teachers Retirement System Reduces Position in Lumen Technologies, Inc. (NYSE:LUMN)

New York State Teachers Retirement System cut its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,009,058 shares of the technology company’s stock after selling 69,100 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Lumen Technologies worth $3,956,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in Lumen Technologies by 3.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company’s stock valued at $408,000 after purchasing an additional 2,220 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Lumen Technologies by 7.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company’s stock valued at $182,000 after purchasing an additional 2,457 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Lumen Technologies by 15.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock valued at $111,000 after purchasing an additional 2,844 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Lumen Technologies by 28.6% in the fourth quarter. Bank of Nova Scotia now owns 13,788 shares of the technology company’s stock valued at $73,000 after purchasing an additional 3,069 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Lumen Technologies by 8.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock valued at $207,000 after purchasing an additional 3,109 shares during the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Raymond James Financial raised shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price target on the stock in a report on Monday, May 5th. BNP Paribas raised shares of Lumen Technologies to a “hold” rating in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.58.

Lumen Technologies Trading Up 3.6%

LUMN stock opened at $4.61 on Monday. The company’s 50-day simple moving average is $4.09 and its 200-day simple moving average is $4.49. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 52-week low of $1.02 and a 52-week high of $10.33. The firm has a market cap of $4.73 billion, a P/E ratio of -14.87 and a beta of 1.39.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative net margin of 2.41% and a negative return on equity of 75.08%. Lumen Technologies’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted ($0.04) EPS. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal 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.