Ensign Peak Advisors Inc Invests $3.08 Million in Lumen Technologies, Inc. (NYSE:LUMN)

Ensign Peak Advisors Inc acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 580,421 shares of the technology company's stock, valued at approximately $3,082,000. Ensign Peak Advisors Inc owned 0.06% of Lumen Technologies as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LUMN. Smartleaf Asset Management LLC increased its holdings in shares of Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company's stock worth $36,000 after acquiring an additional 4,277 shares during the last quarter. R Squared Ltd acquired a new position in shares of Lumen Technologies in the fourth quarter valued at $48,000. Seeds Investor LLC bought a new position in shares of Lumen Technologies in the fourth quarter valued at about $57,000. HB Wealth Management LLC acquired a new stake in shares of Lumen Technologies during the 4th quarter worth about $59,000. Finally, Marshall Wace LLP bought a new stake in shares of Lumen Technologies during the 4th quarter worth about $61,000. 66.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Lumen Technologies Price Performance

LUMN traded down $0.01 during trading on Tuesday, hitting $3.98. 1,648,175 shares of the stock traded hands, compared to its average volume of 19,130,319. The business has a 50 day moving average price of $3.93 and a 200 day moving average price of $5.29. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -79.28 and a beta of 1.34. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

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

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.