6,752,300 Shares in Lumen Technologies, Inc. $LUMN Purchased by Nuveen LLC

Nuveen LLC acquired a new position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,752,300 shares of the technology company's stock, valued at approximately $26,469,000. Nuveen LLC owned 0.66% of Lumen Technologies as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lumen Technologies by 3.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company's stock valued at $408,000 after buying an additional 2,220 shares during the period. HB Wealth Management LLC increased its stake in shares of Lumen Technologies by 23.6% during the first quarter. HB Wealth Management LLC now owns 13,715 shares of the technology company's stock valued at $54,000 after buying an additional 2,619 shares during the period. Natixis Advisors LLC increased its stake in shares of Lumen Technologies by 5.1% during the first quarter. Natixis Advisors LLC now owns 70,630 shares of the technology company's stock valued at $277,000 after buying an additional 3,426 shares during the period. LPL Financial LLC increased its stake in shares of Lumen Technologies by 1.0% during the first quarter. LPL Financial LLC now owns 380,016 shares of the technology company's stock valued at $1,490,000 after buying an additional 3,927 shares during the period. Finally, Avior Wealth Management LLC increased its stake in shares of Lumen Technologies by 9.8% during the first quarter. Avior Wealth Management LLC now owns 45,960 shares of the technology company's stock valued at $180,000 after buying an additional 4,115 shares during the period. Institutional investors own 66.19% of the company's stock.

Lumen Technologies Stock Up 5.9%

Shares of LUMN stock traded up $0.2550 during trading hours on Friday, reaching $4.5650. 3,991,434 shares of the company's stock were exchanged, compared to its average volume of 12,116,229. Lumen Technologies, Inc. has a 1 year low of $3.01 and a 1 year high of $10.33. The stock has a market cap of $4.68 billion, a PE ratio of -3.85 and a beta of 1.43. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The stock's fifty day moving average price is $4.29 and its two-hundred day moving average price is $4.23.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.21. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. The company's revenue was down 5.4% on a year-over-year basis. Research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, CEO Kathleen E. Johnson purchased 135,870 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the completion of the purchase, the chief executive officer owned 9,616,947 shares of the company's stock, valued at approximately $35,486,534.43. The trade was a 1.43% 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, CFO Christopher Stansbury purchased 40,000 shares of the company's stock in a transaction dated Friday, August 15th. The shares were acquired at an average price of $4.44 per share, for a total transaction of $177,600.00. Following the purchase, the chief financial officer directly owned 535,000 shares of the company's stock, valued at approximately $2,375,400. The trade was a 8.08% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 217,870 shares of company stock worth $859,140 in the last 90 days. Insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on LUMN. Wall Street Zen upgraded Lumen Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. BNP Paribas upgraded Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Finally, Raymond James Financial lifted their target price on Lumen Technologies from $4.50 to $5.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $5.29.

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.