Public Sector Pension Investment Board Lowers Stake in Lumen Technologies, Inc. (NYSE:LUMN)

Public Sector Pension Investment Board decreased its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,157,359 shares of the technology company's stock after selling 75,900 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of Lumen Technologies worth $15,317,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LUMN. Sawgrass Asset Management LLC boosted its holdings in shares of Lumen Technologies by 68.5% in the second quarter. Sawgrass Asset Management LLC now owns 22,786 shares of the technology company's stock valued at $25,000 after purchasing an additional 9,263 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Lumen Technologies in the 2nd quarter worth $25,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Lumen Technologies during the 2nd quarter worth $26,000. Concord Wealth Partners increased its stake in shares of Lumen Technologies by 98.8% during the third quarter. Concord Wealth Partners now owns 4,008 shares of the technology company's stock valued at $28,000 after buying an additional 1,992 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Lumen Technologies in the second quarter worth about $33,000. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Down 0.3 %

Lumen Technologies stock traded down $0.03 during midday trading on Friday, reaching $7.35. The company's stock had a trading volume of 5,281,455 shares, compared to its average volume of 19,638,883. Lumen Technologies, Inc. has a 52-week low of $0.97 and a 52-week high of $10.33. The stock has a market capitalization of $7.45 billion, a P/E ratio of -3.38 and a beta of 1.21. The company has a debt-to-equity ratio of 53.05, a current ratio of 1.20 and a quick ratio of 1.20. The stock's 50-day simple moving average is $7.24 and its 200-day simple moving average is $4.40.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its earnings results on Tuesday, November 5th. The technology company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 49.74% and a negative net margin of 16.06%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same quarter last year, the business earned ($0.09) earnings per share. The firm's revenue for the quarter was down 11.5% on a year-over-year basis. On average, sell-side analysts expect that Lumen Technologies, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

LUMN has been the subject of several recent research reports. Moffett Nathanson boosted their price target on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a report on Wednesday, August 7th. Bank of America boosted their price objective on shares of Lumen Technologies from $1.00 to $2.00 and gave the stock an "underperform" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised Lumen Technologies from an "underweight" rating to a "neutral" rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on Lumen Technologies from $4.50 to $5.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Finally, UBS Group lifted their target price on Lumen Technologies from $1.50 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat.com, Lumen Technologies currently has a consensus rating of "Hold" and an average price target of $4.71.

Insider Transactions at Lumen Technologies

In related news, Director James Fowler acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the acquisition, the director now directly owns 384,056 shares in the company, valued at $1,805,063.20. This represents a 2.67 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.68% of the company's stock.

About Lumen Technologies

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.