Strs Ohio Reduces Holdings in Lumen Technologies, Inc. $LUMN

Strs Ohio lowered its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 8.4% in the second quarter, Holdings Channel reports. The institutional investor owned 250,800 shares of the technology company’s stock after selling 23,000 shares during the quarter. Strs Ohio’s holdings in Lumen Technologies were worth $1,099,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in Lumen Technologies by 91.6% in the first quarter. Invesco Ltd. now owns 10,276,782 shares of the technology company’s stock worth $40,285,000 after acquiring an additional 4,911,803 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Lumen Technologies by 8.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock valued at $41,700,000 after purchasing an additional 748,185 shares during the last quarter. Nuveen LLC purchased a new position in shares of Lumen Technologies during the 1st quarter worth $26,469,000. Principal Financial Group Inc. increased its position in shares of Lumen Technologies by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 5,053,232 shares of the technology company’s stock worth $19,809,000 after purchasing an additional 131,851 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Lumen Technologies by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 3,218,230 shares of the technology company’s stock valued at $12,615,000 after buying an additional 689,843 shares during the period. 66.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Christopher Stansbury acquired 42,000 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was acquired at an average price of $4.29 per share, for a total transaction of $180,180.00. Following the purchase, the chief financial officer owned 518,000 shares of the company’s stock, valued at $2,222,220. This represents a 8.82% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.30% of the company’s stock.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $10.89 on Friday. The firm has a 50 day moving average of $6.98 and a two-hundred day moving average of $5.14. The stock has a market capitalization of $11.17 billion, a PE ratio of -9.23 and a beta of 1.45. 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 $11.95.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Citigroup cut shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research report on Friday, October 31st. Wall Street Zen lowered Lumen Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Raymond James Financial raised their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.97.

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.