Empowered Funds LLC Takes $1.14 Million Position in Lumen Technologies, Inc. (NYSE:LUMN)

Empowered Funds LLC acquired a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 214,509 shares of the technology company's stock, valued at approximately $1,139,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in Lumen Technologies in the second quarter valued at $25,000. CWM LLC grew its holdings in Lumen Technologies by 49.6% in the third quarter. CWM LLC now owns 15,692 shares of the technology company's stock valued at $111,000 after purchasing an additional 5,202 shares during the last quarter. Creative Planning grew its holdings in Lumen Technologies by 8.2% in the third quarter. Creative Planning now owns 323,628 shares of the technology company's stock valued at $2,298,000 after purchasing an additional 24,565 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in Lumen Technologies by 25.8% in the third quarter. Cornerstone Wealth Management LLC now owns 21,936 shares of the technology company's stock valued at $156,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Lumen Technologies in the third quarter valued at $46,000. Institutional investors and hedge funds own 66.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group upped their target price on 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 issued a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. TD Cowen reduced their price objective on Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Wednesday, November 6th. Finally, Citigroup upped their price objective on Lumen Technologies from $6.50 to $8.00 and gave the company a "neutral" rating in a research report on Friday, November 29th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $4.66.

Lumen Technologies Trading Down 3.8 %

NYSE LUMN traded down $0.19 during trading hours on Thursday, hitting $4.70. 7,671,140 shares of the company's stock were exchanged, compared to its average volume of 11,967,689. The business's 50 day moving average is $5.41 and its 200-day moving average is $6.18. Lumen Technologies, Inc. has a 12-month low of $0.97 and a 12-month high of $10.33. The firm has a market capitalization of $4.76 billion, a P/E ratio of -93.88 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.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate 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, analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS 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.