Lumen Technologies, Inc. (NYSE:LUMN) Stake Increased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,053,232 shares of the technology company's stock after buying an additional 131,851 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Lumen Technologies worth $19,809,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LUMN. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Lumen Technologies by 92.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,068 shares of the technology company's stock worth $157,000 after buying an additional 19,216 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Lumen Technologies by 3,825.7% in the 4th quarter. Lazard Asset Management LLC now owns 7,498 shares of the technology company's stock worth $39,000 after purchasing an additional 7,307 shares during the period. Raymond James Financial Inc. purchased a new position in Lumen Technologies during the 4th quarter valued at about $1,624,000. M&T Bank Corp purchased a new position in Lumen Technologies during the 4th quarter valued at about $66,000. Finally, Ritholtz Wealth Management purchased a new position in Lumen Technologies during the 1st quarter valued at about $43,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.

Lumen Technologies Stock Down 0.4%

Shares of LUMN stock traded down $0.02 during trading on Friday, reaching $4.49. The company's stock had a trading volume of 7,689,564 shares, compared to its average volume of 19,590,748. The company has a debt-to-equity ratio of 59.98, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of -14.48 and a beta of 1.39. The stock's 50-day moving average price is $4.18 and its 200 day moving average price is $4.45. Lumen Technologies, Inc. has a 1-year low of $1.16 and a 1-year high of $10.33.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative net margin of 2.41% and a negative return on equity of 75.08%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm earned ($0.04) EPS. Lumen Technologies's revenue for the quarter was down 3.3% on a year-over-year basis. On average, research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LUMN shares. BNP Paribas upgraded shares of Lumen Technologies to a "hold" rating in a research note on Wednesday, June 25th. Raymond James Financial raised shares of Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price target on the stock in a report on Monday, May 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $4.58.

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.