214,509 Shares in Lumen Technologies, Inc. (NYSE:LUMN) Acquired by Empowered Funds LLC

Empowered Funds LLC bought a new position in Lumen Technologies, Inc. (NYSE:LUMN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 214,509 shares of the technology company’s stock, valued at approximately $1,139,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Lumen Technologies by 1.7% in the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after purchasing an additional 383,693 shares during the period. Hennessy Advisors Inc. purchased a new stake in shares of Lumen Technologies in the 4th quarter worth $45,089,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Lumen Technologies by 9.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,265,415 shares of the technology company’s stock worth $23,184,000 after buying an additional 294,679 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Lumen Technologies by 1,081.0% during the third quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock valued at $16,819,000 after buying an additional 2,168,325 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Lumen Technologies in the third quarter valued at about $10,062,000. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LUMN shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a report on Monday, February 10th. The Goldman Sachs Group boosted their price objective on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Citigroup increased their target price on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Finally, TD Cowen reduced their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.66.

Lumen Technologies Stock Down 2.4 %

Lumen Technologies stock opened at $4.60 on Monday. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The business has a fifty day moving average price of $5.51 and a 200-day moving average price of $6.16. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of -91.88 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. Equities research analysts forecast that Lumen Technologies, Inc. will post -0.79 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.