Texas Permanent School Fund Corp Boosts Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Texas Permanent School Fund Corp boosted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 888,228 shares of the technology company’s stock after purchasing an additional 7,922 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of Lumen Technologies worth $977,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of Lumen Technologies by 2.0% in the second quarter. Arizona State Retirement System now owns 282,687 shares of the technology company’s stock worth $311,000 after buying an additional 5,418 shares in the last quarter. Sawgrass Asset Management LLC raised its holdings in Lumen Technologies by 68.5% in the 2nd quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company’s stock worth $25,000 after acquiring an additional 9,263 shares during the last quarter. Argent Advisors Inc. lifted its position in Lumen Technologies by 12.4% in the 2nd quarter. Argent Advisors Inc. now owns 93,937 shares of the technology company’s stock valued at $103,000 after acquiring an additional 10,400 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in Lumen Technologies by 94.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock valued at $35,000 after purchasing an additional 10,764 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Lumen Technologies by 2.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 510,700 shares of the technology company’s stock worth $562,000 after purchasing an additional 11,000 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Down 0.7 %

Shares of LUMN stock opened at $6.66 on Friday. The company has a 50 day simple moving average of $4.41 and a two-hundred day simple moving average of $2.40. The stock has a market cap of $6.76 billion, a P/E ratio of -0.61 and a beta of 1.18. Lumen Technologies, Inc. has a 12 month low of $0.78 and a 12 month high of $7.83. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 39.51.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. Lumen Technologies’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. On average, research analysts expect that Lumen Technologies, Inc. will post -0.17 earnings per share for the current year.

Insider Transactions at Lumen Technologies

In related news, Director James Fowler acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the purchase, the director now owns 384,056 shares in the company, valued at approximately $1,805,063.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LUMN shares. JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a report on Wednesday, August 7th. Moffett Nathanson upped their target price on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. TD Cowen lifted their price target on shares of Lumen Technologies from $2.50 to $7.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and increased their price objective for the company from $1.00 to $4.00 in a research report on Wednesday, August 7th. Finally, UBS Group lifted their target price on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.02.

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.