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

Teacher Retirement System of Texas bought a new stake in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 bought and sold shares of LUMN. Raymond James Financial Inc. acquired a new stake in shares of Lumen Technologies in the fourth quarter worth about $1,624,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Lumen Technologies by 2.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 243,885 shares of the technology company's stock worth $1,295,000 after buying an additional 6,404 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Lumen Technologies in the fourth quarter worth about $658,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Lumen Technologies by 15.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company's stock worth $111,000 after buying an additional 2,844 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of Lumen Technologies in the fourth quarter worth about $503,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James Financial raised Lumen Technologies from a "market perform" rating to an "outperform" rating and set a $4.50 price objective for the company in a research report on Monday, May 5th. BNP Paribas raised Lumen Technologies to a "hold" rating in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $4.58.

Lumen Technologies Price Performance

NYSE LUMN traded down $0.03 during trading hours on Friday, reaching $4.36. 7,072,548 shares of the company's stock were exchanged, compared to its average volume of 19,516,796. The stock has a market cap of $4.47 billion, a PE ratio of -14.06 and a beta of 1.39. Lumen Technologies, Inc. has a one year low of $1.39 and a one year high of $10.33. The firm has a fifty day moving average of $4.20 and a 200-day moving average of $4.42. 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 earnings results on Thursday, May 1st. The technology company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.16. Lumen Technologies had a negative return on equity of 75.08% and a negative net margin of 2.41%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. The company's quarterly revenue was down 3.3% on a year-over-year basis. On average, equities research analysts predict 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.