State of New Jersey Common Pension Fund D Sells 15,966 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

State of New Jersey Common Pension Fund D lowered its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 4.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 365,696 shares of the technology company’s stock after selling 15,966 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lumen Technologies were worth $1,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LUMN. J.W. Cole Advisors Inc. purchased a new position in shares of Lumen Technologies during the 4th quarter valued at about $69,000. Allworth Financial LP raised its position in shares of Lumen Technologies by 115.3% during the 4th quarter. Allworth Financial LP now owns 12,910 shares of the technology company’s stock valued at $74,000 after purchasing an additional 6,914 shares during the period. bLong Financial LLC purchased a new position in shares of Lumen Technologies during the 4th quarter valued at $110,000. Congress Asset Management Co. increased its stake in Lumen Technologies by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 421,720 shares of the technology company’s stock worth $2,239,000 after buying an additional 56,589 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA raised its holdings in Lumen Technologies by 50.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 45,000 shares of the technology company’s stock valued at $239,000 after acquiring an additional 15,000 shares during the period. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

Shares of LUMN stock opened at $4.34 on Tuesday. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -86.70 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The stock’s 50-day simple moving average is $5.30 and its 200-day simple moving average is $6.18. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on LUMN shares. Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a report on Friday. TD Cowen lowered their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Citigroup increased their price target on Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.78.

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.