Teacher Retirement System of Texas Takes $553,000 Position in Lumen Technologies, Inc. (NYSE:LUMN)

Teacher Retirement System of Texas purchased a new stake in Lumen Technologies, Inc. (NYSE:LUMN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 140,960 shares of the technology company’s stock, valued at approximately $553,000.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Lumen Technologies during the 4th quarter worth approximately $1,624,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Lumen Technologies by 2.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 243,885 shares of the technology company’s stock worth $1,295,000 after buying an additional 6,404 shares during the period. Madison Investment Advisors LLC acquired a new stake in Lumen Technologies during the 4th quarter worth approximately $658,000. Envestnet Portfolio Solutions Inc. boosted its position in Lumen Technologies by 15.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock worth $111,000 after buying an additional 2,844 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in Lumen Technologies during the 4th quarter worth approximately $503,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Raymond James Financial upgraded shares of Lumen Technologies from a “market perform” rating to an “outperform” rating and set a $4.50 price target for the company in a report on Monday, May 5th. BNP Paribas upgraded 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 assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Lumen Technologies currently has an average rating of “Hold” and a consensus target price of $4.58.

Lumen Technologies Stock Down 0.6%

Lumen Technologies stock opened at $4.51 on Thursday. 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 12-month low of $1.27 and a 12-month high of $10.33. The firm’s fifty day moving average is $4.20 and its 200 day moving average is $4.44. The company has a market capitalization of $4.62 billion, a PE ratio of -14.53 and a beta of 1.39.

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

About Lumen Technologies

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.