Elo Mutual Pension Insurance Co Takes Position in Lumen Technologies, Inc. $LUMN

Elo Mutual Pension Insurance Co purchased a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 75,104 shares of the technology company’s stock, valued at approximately $329,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. FreeGulliver LLC purchased a new position in shares of Lumen Technologies during the 2nd quarter worth approximately $44,000. Insigneo Advisory Services LLC acquired a new position in Lumen Technologies during the second quarter worth $64,000. Prudential Financial Inc. raised its position in Lumen Technologies by 10.5% in the second quarter. Prudential Financial Inc. now owns 1,099,473 shares of the technology company’s stock worth $4,816,000 after acquiring an additional 104,362 shares in the last quarter. AXQ Capital LP lifted its holdings in Lumen Technologies by 302.4% in the second quarter. AXQ Capital LP now owns 86,263 shares of the technology company’s stock valued at $378,000 after acquiring an additional 64,826 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Lumen Technologies by 60.0% during the 2nd quarter. Franklin Resources Inc. now owns 1,165,301 shares of the technology company’s stock worth $5,104,000 after purchasing an additional 437,163 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Stock Up 0.4%

Shares of NYSE LUMN opened at $8.13 on Friday. The firm’s 50-day moving average is $7.91 and its two-hundred day moving average is $5.66. The company has a market capitalization of $8.33 billion, a PE ratio of -6.89 and a beta of 1.45. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $11.95. The company has a debt-to-equity ratio of 59.98, a current ratio of 2.13 and a quick ratio of 2.13.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 earnings per share (EPS) for the quarter. The firm had revenue of $4.05 billion during the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%. Equities analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LUMN. Royal Bank Of Canada increased their price target on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th. Wall Street Zen raised shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday, October 8th. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a report on Friday, October 31st. Finally, The Goldman Sachs Group lifted their price objective on Lumen Technologies from $4.10 to $4.60 and gave the stock a “neutral” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Lumen Technologies currently has a consensus rating of “Hold” and an average target price of $6.72.

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.