Empowered Funds LLC Buys New Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Empowered Funds LLC bought a new stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 214,509 shares of the technology company's stock, valued at approximately $1,139,000.

A number of other large investors have also recently made changes to their positions in the stock. Strategic Financial Concepts LLC boosted its stake in shares of Lumen Technologies by 430.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock valued at $952,000 after purchasing an additional 145,542 shares during the period. Trust Point Inc. purchased a new stake in Lumen Technologies in the fourth quarter worth about $107,000. McAdam LLC purchased a new stake in Lumen Technologies in the fourth quarter worth about $345,000. R Squared Ltd purchased a new stake in Lumen Technologies in the fourth quarter worth about $48,000. Finally, BSW Wealth Partners lifted its stake in Lumen Technologies by 26.9% in the fourth quarter. BSW Wealth Partners now owns 165,093 shares of the technology company's stock worth $877,000 after acquiring an additional 35,029 shares during the period. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Down 0.7 %

Shares of LUMN traded down $0.04 during mid-day trading on Wednesday, hitting $4.89. 9,491,638 shares of the company traded hands, compared to its average volume of 12,102,524. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The company has a market capitalization of $4.97 billion, a PE ratio of -97.86 and a beta of 1.28. The business has a 50 day moving average of $5.41 and a 200 day moving average of $6.18.

Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. Equities research analysts anticipate that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LUMN shares. Citigroup upped their price objective on shares of Lumen Technologies from $6.50 to $8.00 and gave the stock a "neutral" rating in a research note on Friday, November 29th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. TD Cowen reduced their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a "hold" rating for the company in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $4.66.

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.