Teacher Retirement System of Texas Purchases New Position in Lumen Technologies, Inc. (NYSE:LUMN)

Teacher Retirement System of Texas purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 140,960 shares of the technology company's stock, valued at approximately $553,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Lazard Asset Management LLC increased its holdings in Lumen Technologies by 3,825.7% during 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. Quantinno Capital Management LP purchased a new position in Lumen Technologies during the 4th quarter worth $54,000. Seeds Investor LLC purchased a new position in shares of Lumen Technologies in the 4th quarter valued at $57,000. Ritholtz Wealth Management purchased a new position in shares of Lumen Technologies in the 1st quarter valued at $43,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of Lumen Technologies in the 4th quarter valued at $62,000. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Performance

Shares of NYSE LUMN traded down $0.03 during trading on Friday, reaching $4.36. 7,048,010 shares of the company traded hands, compared to its average volume of 19,469,020. The firm's fifty day simple moving average is $4.20 and its 200 day simple moving average is $4.43. The stock has a market cap of $4.47 billion, a P/E ratio of -14.06 and a beta of 1.39. Lumen Technologies, Inc. has a 12-month low of $1.32 and a 12-month high of $10.33. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 59.98.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. Lumen Technologies had a negative return on equity of 75.08% and a negative net margin of 2.41%. The company's revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. As a group, research analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LUMN. Raymond James Financial upgraded 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. BNP Paribas upgraded Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Lumen Technologies has an average rating of "Hold" and a consensus price target of $4.58.

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.