Ensign Peak Advisors Inc Purchases New Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Ensign Peak Advisors Inc acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 580,421 shares of the technology company's stock, valued at approximately $3,082,000. Ensign Peak Advisors Inc owned about 0.06% of Lumen Technologies at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Northern Trust Corp raised its holdings in Lumen Technologies by 8.6% in the 4th quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company's stock valued at $65,602,000 after buying an additional 982,206 shares during the last quarter. Norges Bank bought a new position in Lumen Technologies in the 4th quarter valued at approximately $63,638,000. Renaissance Technologies LLC raised its holdings in Lumen Technologies by 76.3% in the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company's stock valued at $61,936,000 after buying an additional 5,049,709 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Lumen Technologies by 368.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company's stock valued at $52,111,000 after buying an additional 7,717,596 shares during the last quarter. Finally, Hennessy Advisors Inc. bought a new position in Lumen Technologies in the 4th quarter valued at approximately $45,089,000. Institutional investors own 66.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LUMN shares. Citigroup raised shares of Lumen Technologies from a "neutral" rating to a "buy" rating and decreased their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Raymond James raised shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 target price for the company in a research report on Monday, May 5th. Royal Bank of Canada reissued a "sector perform" rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Wells Fargo & Company raised shares of Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 target price for the company in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $4.58.

Lumen Technologies Trading Down 1.8%

Shares of LUMN stock traded down $0.08 during trading hours on Friday, hitting $4.11. 7,976,759 shares of the company were exchanged, compared to its average volume of 19,246,036. The firm has a market cap of $4.21 billion, a P/E ratio of -82.08 and a beta of 1.34. Lumen Technologies, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $10.33. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21. The company has a 50 day simple moving average of $3.95 and a two-hundred day simple moving average of $5.32.

Lumen Technologies (NYSE:LUMN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.16. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. The company's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) EPS. Equities analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current 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.