Vestcor Inc Buys Shares of 46,114 Lumen Technologies, Inc. (NYSE:LUMN)

Vestcor Inc purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 46,114 shares of the technology company’s stock, valued at approximately $245,000.

Several other institutional investors have also recently made changes to their positions in LUMN. Connor Clark & Lunn Investment Management Ltd. raised its position in Lumen Technologies by 23.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,029,938 shares of the technology company’s stock valued at $21,399,000 after purchasing an additional 764,523 shares during the period. Rakuten Securities Inc. raised its holdings in Lumen Technologies by 506.7% in the 4th quarter. Rakuten Securities Inc. now owns 18,991 shares of the technology company’s stock valued at $101,000 after buying an additional 15,861 shares during the period. Sequoia Financial Advisors LLC lifted its position in Lumen Technologies by 46.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,081,965 shares of the technology company’s stock valued at $11,055,000 after buying an additional 664,823 shares during the last quarter. Wealthfront Advisers LLC purchased a new position in Lumen Technologies during the fourth quarter worth about $352,000. Finally, Global View Capital Management LLC purchased a new stake in shares of Lumen Technologies in the 4th quarter valued at approximately $100,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LUMN. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and cut their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Lumen Technologies presently has a consensus rating of “Hold” and an average price target of $4.59.

Lumen Technologies Trading Up 4.2 %

LUMN opened at $5.08 on Tuesday. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of -101.48 and a beta of 1.28. The business has a fifty day moving average price of $5.05 and a 200 day moving average price of $6.10. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Sell-side analysts expect 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.