Ensign Peak Advisors Inc Sells 187,166 Shares of Lumen Technologies, Inc. $LUMN

Ensign Peak Advisors Inc lowered its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 38.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 298,800 shares of the technology company’s stock after selling 187,166 shares during the period. Ensign Peak Advisors Inc’s holdings in Lumen Technologies were worth $1,309,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of Lumen Technologies by 132.3% during the second quarter. Farther Finance Advisors LLC now owns 5,954 shares of the technology company’s stock worth $26,000 after purchasing an additional 3,391 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Lumen Technologies by 3,527.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,639 shares of the technology company’s stock worth $29,000 after acquiring an additional 6,456 shares during the last quarter. Firestone Capital Management acquired a new position in Lumen Technologies in the 2nd quarter valued at approximately $44,000. Meeder Advisory Services Inc. acquired a new position in Lumen Technologies in the 1st quarter valued at approximately $41,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Lumen Technologies by 60.8% during the first quarter. Smartleaf Asset Management LLC now owns 10,847 shares of the technology company’s stock worth $43,000 after purchasing an additional 4,102 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LUMN. Royal Bank Of Canada increased their price objective on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday. Raymond James Financial upped their price target on Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Citigroup cut Lumen Technologies from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lumen Technologies in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group increased their target price on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lumen Technologies has a consensus rating of “Hold” and an average target price of $6.72.

Lumen Technologies Trading Up 0.4%

Shares of LUMN stock opened at $8.13 on Friday. Lumen Technologies, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $11.95. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. The stock has a 50 day simple moving average of $7.91 and a two-hundred day simple moving average of $5.65. The company has a market cap of $8.33 billion, a P/E ratio of -6.89 and a beta of 1.45.

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

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.