Teachers Retirement System of The State of Kentucky Acquires 57,900 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Teachers Retirement System of The State of Kentucky raised its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 25.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 283,069 shares of the technology company’s stock after buying an additional 57,900 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Lumen Technologies were worth $1,503,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LUMN. Virtu Financial LLC purchased a new position in Lumen Technologies in the third quarter worth about $473,000. Franklin Resources Inc. boosted its holdings in shares of Lumen Technologies by 66.8% in the 3rd quarter. Franklin Resources Inc. now owns 560,793 shares of the technology company’s stock worth $3,982,000 after purchasing an additional 224,506 shares during the period. Diversified Trust Co bought a new position in shares of Lumen Technologies during the 4th quarter valued at approximately $482,000. Assenagon Asset Management S.A. raised its holdings in Lumen Technologies by 8.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 935,386 shares of the technology company’s stock valued at $4,967,000 after buying an additional 73,841 shares during the period. Finally, Hennessy Advisors Inc. bought a new stake in Lumen Technologies in the fourth quarter worth $45,089,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LUMN shares. Wells Fargo & Company raised shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a research note on Friday, February 21st. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Lumen Technologies has a consensus rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Trading Up 0.3 %

Shares of NYSE:LUMN opened at $3.35 on Friday. The company has a market capitalization of $3.43 billion, a PE ratio of -66.99 and a beta of 1.29. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The business’s fifty day simple moving average is $4.17 and its 200-day simple moving average is $5.56.

Lumen Technologies (NYSE:LUMN) last announced its 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 net margin of 0.42% and a negative return on equity of 46.17%. As a group, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

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.