Maryland State Retirement & Pension System Buys 5,062 Shares of Lumen Technologies, Inc. $LUMN

Maryland State Retirement & Pension System boosted its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 301,498 shares of the technology company’s stock after buying an additional 5,062 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Lumen Technologies were worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Lumen Technologies by 3.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company’s stock worth $408,000 after purchasing an additional 2,220 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of Lumen Technologies by 23.6% during the 1st quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company’s stock worth $54,000 after acquiring an additional 2,619 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Lumen Technologies by 132.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after acquiring an additional 3,391 shares during the last quarter. Natixis Advisors LLC increased its stake in Lumen Technologies by 5.1% in the first quarter. Natixis Advisors LLC now owns 70,630 shares of the technology company’s stock worth $277,000 after purchasing an additional 3,426 shares during the period. Finally, LPL Financial LLC increased its stake in Lumen Technologies by 1.0% in the first quarter. LPL Financial LLC now owns 380,016 shares of the technology company’s stock worth $1,490,000 after purchasing an additional 3,927 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup upped their price target on shares of Lumen Technologies from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, September 25th. Raymond James Financial raised their price objective on Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. BNP Paribas raised Lumen Technologies to a “hold” rating in a research report on Wednesday, June 25th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a report on Wednesday. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.39.

Insider Activity

In other Lumen Technologies news, CFO Christopher Stansbury purchased 42,000 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $180,180.00. Following the completion of the purchase, the chief financial officer owned 518,000 shares of the company’s stock, valued at approximately $2,222,220. The trade was a 8.82% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kathleen E. Johnson bought 135,870 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was bought at an average price of $3.69 per share, with a total value of $501,360.30. Following the completion of the purchase, the chief executive officer directly owned 9,616,947 shares in the company, valued at $35,486,534.43. This represents a 1.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 217,870 shares of company stock worth $859,140 over the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Lumen Technologies Stock Down 3.9%

Shares of Lumen Technologies stock opened at $6.59 on Friday. The firm’s 50 day moving average price is $5.27 and its 200-day moving average price is $4.45. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 59.98. Lumen Technologies, Inc. has a 52-week low of $3.01 and a 52-week high of $10.33. The company has a market cap of $6.76 billion, a P/E ratio of -5.58 and a beta of 1.45.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Friday, January 27th. The technology company reported $0.49 earnings per share for the quarter. The company had revenue of $4.05 billion during the quarter. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. On average, sell-side analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

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.