Thrivent Financial for Lutherans Sells 165,982 Shares of Lumen Technologies, Inc. $LUMN

Thrivent Financial for Lutherans reduced its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 18.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 756,150 shares of the technology company’s stock after selling 165,982 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of Lumen Technologies worth $3,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of LUMN. State of New Jersey Common Pension Fund D raised its stake in Lumen Technologies by 9.8% during the second quarter. State of New Jersey Common Pension Fund D now owns 490,480 shares of the technology company’s stock worth $2,148,000 after acquiring an additional 43,711 shares in the last quarter. Bryce Point Capital LLC bought a new stake in shares of Lumen Technologies in the 2nd quarter worth about $169,000. Credit Capital Investments LLC increased its position in shares of Lumen Technologies by 150.0% during the 2nd quarter. Credit Capital Investments LLC now owns 150,000 shares of the technology company’s stock worth $657,000 after purchasing an additional 90,000 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Lumen Technologies by 10.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,099,473 shares of the technology company’s stock valued at $4,816,000 after purchasing an additional 104,362 shares during the last quarter. Finally, Strs Ohio acquired a new position in Lumen Technologies in the first quarter valued at about $1,073,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Price Performance

Shares of LUMN stock opened at $8.16 on Monday. The firm’s 50 day moving average price is $8.54 and its two-hundred day moving average price is $6.14. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.21 and a current ratio of 2.21. Lumen Technologies, Inc. has a 52-week low of $3.01 and a 52-week high of $11.95. The stock has a market cap of $8.37 billion, a PE ratio of -4.94 and a beta of 1.42.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. Lumen Technologies had a negative net margin of 13.02% and a negative return on equity of 158.40%. The company had revenue of $4.05 billion during the quarter. As a group, analysts forecast that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LUMN. The Goldman Sachs Group lifted their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Royal Bank Of Canada lifted their price objective on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.72.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.