Texas Permanent School Fund Corp Acquires 7,922 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Texas Permanent School Fund Corp boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 0.9% during the 2nd quarter, Holdings Channel reports. The firm owned 888,228 shares of the technology company’s stock after buying an additional 7,922 shares during the period. Texas Permanent School Fund Corp’s holdings in Lumen Technologies were worth $977,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in LUMN. Choreo LLC raised its position in shares of Lumen Technologies by 68.3% during the second quarter. Choreo LLC now owns 281,902 shares of the technology company’s stock valued at $313,000 after buying an additional 114,391 shares during the last quarter. Arizona State Retirement System grew its stake in Lumen Technologies by 2.0% during the second quarter. Arizona State Retirement System now owns 282,687 shares of the technology company’s stock valued at $311,000 after acquiring an additional 5,418 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Lumen Technologies in the 2nd quarter valued at $26,000. Mraz Amerine & Associates Inc. lifted its stake in Lumen Technologies by 12.7% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 367,499 shares of the technology company’s stock worth $404,000 after purchasing an additional 41,520 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Lumen Technologies during the 2nd quarter valued at about $89,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LUMN has been the topic of several research reports. Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $1.25 to $3.15 in a report on Tuesday, August 6th. Moffett Nathanson lifted their price objective on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research note on Wednesday, August 7th. Wells Fargo & Company downgraded Lumen Technologies from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $1.75 to $4.00 in a research report on Friday, August 16th. UBS Group boosted their price target on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upgraded shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.02.

Insider Buying and Selling

In other news, Director James Fowler acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.68% of the stock is owned by corporate insiders.

Lumen Technologies Price Performance

Shares of Lumen Technologies stock opened at $6.66 on Friday. The stock has a 50 day moving average price of $4.41 and a 200-day moving average price of $2.40. Lumen Technologies, Inc. has a one year low of $0.78 and a one year high of $7.83. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of -0.61 and a beta of 1.18. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.01 and a current ratio of 1.01.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was down 10.7% compared to the same quarter last year. Equities analysts expect that Lumen Technologies, Inc. will post -0.17 EPS for the current 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.