Louisiana State Employees Retirement System Invests $2.91 Million in Lumen Technologies, Inc. $LUMN

Louisiana State Employees Retirement System acquired a new stake in Lumen Technologies, Inc. (NYSE:LUMN) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 418,500 shares of the technology company’s stock, valued at approximately $2,909,000.

Other hedge funds have also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. increased its holdings in Lumen Technologies by 58.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock worth $37,050,000 after purchasing an additional 1,755,368 shares in the last quarter. Private Advisory Group LLC bought a new position in shares of Lumen Technologies during the 4th quarter worth approximately $1,200,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Lumen Technologies by 210.6% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock worth $4,372,000 after buying an additional 381,391 shares during the period. CapWealth Advisors LLC increased its stake in shares of Lumen Technologies by 3.2% in the 4th quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company’s stock valued at $52,057,000 after acquiring an additional 204,970 shares in the last quarter. Finally, JT Stratford LLC acquired a new position in shares of Lumen Technologies during the 3rd quarter valued at $2,061,000. 66.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on LUMN. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. UBS Group upped their target price on Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on shares of Lumen Technologies from $6.00 to $7.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Tuesday, April 21st. Finally, TD Cowen upped their price target on shares of Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Nine research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lumen Technologies presently has a consensus rating of “Reduce” and an average target price of $7.91.

Lumen Technologies Trading Up 0.0%

Shares of NYSE LUMN opened at $8.08 on Monday. The stock’s 50-day moving average is $9.06 and its 200 day moving average is $8.14. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of -4.64 and a beta of 1.70. Lumen Technologies, Inc. has a 1-year low of $3.37 and a 1-year high of $11.95.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.83 billion. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. On average, analysts forecast that Lumen Technologies, Inc. will post -0.39 EPS for the current fiscal year.

Lumen Technologies Profile

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.