Strs Ohio Reduces Holdings in Lumen Technologies, Inc. $LUMN

Strs Ohio lowered its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 41.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 146,000 shares of the technology company’s stock after selling 104,800 shares during the period. Strs Ohio’s holdings in Lumen Technologies were worth $894,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LUMN. Olympiad Research LP acquired a new position in Lumen Technologies during the third quarter worth approximately $98,000. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Lumen Technologies by 40.6% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 181,129 shares of the technology company’s stock valued at $1,109,000 after acquiring an additional 52,269 shares during the period. Inscription Capital LLC purchased a new stake in Lumen Technologies in the 3rd quarter valued at $103,000. Arkadios Wealth Advisors boosted its stake in Lumen Technologies by 10.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 14,154 shares of the technology company’s stock worth $87,000 after purchasing an additional 1,340 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Lumen Technologies by 4.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 304,354 shares of the technology company’s stock worth $1,863,000 after purchasing an additional 11,577 shares during the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Trading Down 1.1%

Shares of LUMN stock opened at $9.19 on Thursday. Lumen Technologies, Inc. has a 12-month low of $3.01 and a 12-month high of $11.95. The company has a market cap of $9.42 billion, a price-to-earnings ratio of -5.57 and a beta of 1.46. The stock has a 50 day simple moving average of $8.19 and a 200-day simple moving average of $6.89.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.11. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 13.02%.Lumen Technologies’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.13) earnings per share. On average, equities analysts forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LUMN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a report on Thursday, January 22nd. Zacks Research raised Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. The Goldman Sachs Group lifted their target price on Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Citigroup lowered shares of Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.72.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.