Teachers Retirement System of The State of Kentucky Purchases 13,000 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Teachers Retirement System of The State of Kentucky raised its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 296,069 shares of the technology company’s stock after purchasing an additional 13,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lumen Technologies were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of LUMN. Northern Trust Corp boosted its holdings in shares of Lumen Technologies by 8.6% in the fourth quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company’s stock worth $65,602,000 after acquiring an additional 982,206 shares during the period. Norges Bank bought a new stake in Lumen Technologies during the fourth quarter valued at $63,638,000. Renaissance Technologies LLC boosted its stake in Lumen Technologies by 76.3% during the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock valued at $61,936,000 after buying an additional 5,049,709 shares during the period. Dimensional Fund Advisors LP boosted its stake in Lumen Technologies by 368.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock valued at $52,111,000 after buying an additional 7,717,596 shares during the period. Finally, Millennium Management LLC boosted its stake in Lumen Technologies by 474.8% during the fourth quarter. Millennium Management LLC now owns 5,744,368 shares of the technology company’s stock valued at $30,503,000 after buying an additional 4,745,040 shares during the period. 66.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Lumen Technologies Stock Down 3.2%

LUMN opened at $4.43 on Friday. The company has a market cap of $4.54 billion, a P/E ratio of -14.27 and a beta of 1.39. The business’s 50-day moving average price is $4.21 and its 200-day moving average price is $4.39. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 12 month low of $1.48 and a 12 month high of $10.33.

Lumen Technologies (NYSE:LUMN) last announced its quarterly 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 return on equity of 75.08% and a negative net margin of 2.41%. 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 business earned ($0.04) EPS. Lumen Technologies’s revenue was down 3.3% compared to the same quarter last year. On average, equities analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

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.