State of New Jersey Common Pension Fund D Acquires 43,711 Shares of Lumen Technologies, Inc. $LUMN

State of New Jersey Common Pension Fund D increased its holdings in Lumen Technologies, Inc. (NYSE:LUMN) by 9.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 490,480 shares of the technology company’s stock after acquiring an additional 43,711 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lumen Technologies were worth $2,148,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Invesco Ltd. grew its holdings in shares of Lumen Technologies by 91.6% in the first quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company’s stock valued at $40,285,000 after acquiring an additional 4,911,803 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Lumen Technologies by 8.5% during the second quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock valued at $41,700,000 after purchasing an additional 748,185 shares during the period. Nuveen LLC bought a new position in Lumen Technologies during the first quarter valued at $26,469,000. Principal Financial Group Inc. grew its holdings in Lumen Technologies by 2.7% during the first quarter. Principal Financial Group Inc. now owns 5,053,232 shares of the technology company’s stock valued at $19,809,000 after purchasing an additional 131,851 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in Lumen Technologies by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 3,218,230 shares of the technology company’s stock valued at $12,615,000 after purchasing an additional 689,843 shares during the period. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Trading Up 9.6%

NYSE:LUMN opened at $11.01 on Thursday. The company has a market cap of $11.30 billion, a P/E ratio of -9.33 and a beta of 1.45. The stock’s fifty day moving average price is $6.26 and its two-hundred day moving average price is $4.84. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $11.32. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13.

Lumen Technologies (NYSE:LUMN) last posted its earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. The firm had revenue of $4.05 billion for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%. As a group, analysts expect that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Insiders Place Their Bets

In other Lumen Technologies news, CEO Kathleen E. Johnson acquired 135,870 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were bought at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the completion of the transaction, the chief executive officer owned 9,616,947 shares of the company’s stock, valued at approximately $35,486,534.43. This represents a 1.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher Stansbury acquired 40,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average price of $4.44 per share, for a total transaction of $177,600.00. Following the transaction, the chief financial officer directly owned 535,000 shares of the company’s stock, valued at $2,375,400. This represents a 8.08% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 217,870 shares of company stock worth $859,140 in the last quarter. 2.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LUMN has been the subject of several research reports. Raymond James Financial increased their price objective on Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Citigroup increased their price objective on Lumen Technologies from $6.00 to $7.50 and gave the company a “buy” rating in a report on Thursday, September 25th. The Goldman Sachs Group increased their price objective on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lumen Technologies has an average rating of “Hold” and an average target price of $5.39.

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.