Thrivent Financial for Lutherans Has $7.50 Million Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Thrivent Financial for Lutherans increased its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 25.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,056,735 shares of the technology company's stock after purchasing an additional 212,407 shares during the period. Thrivent Financial for Lutherans owned approximately 0.10% of Lumen Technologies worth $7,503,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LUMN. Vanguard Group Inc. lifted its stake in Lumen Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 120,303,220 shares of the technology company's stock worth $187,673,000 after purchasing an additional 1,975,400 shares during the period. Front Street Capital Management Inc. boosted its stake in shares of Lumen Technologies by 30.1% in the 2nd quarter. Front Street Capital Management Inc. now owns 11,661,112 shares of the technology company's stock valued at $12,827,000 after purchasing an additional 2,697,423 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Lumen Technologies by 11.6% in the 2nd quarter. Renaissance Technologies LLC now owns 8,873,803 shares of the technology company's stock worth $9,761,000 after purchasing an additional 919,300 shares during the last quarter. Millennium Management LLC increased its position in shares of Lumen Technologies by 129.8% during the 2nd quarter. Millennium Management LLC now owns 7,854,906 shares of the technology company's stock worth $8,640,000 after purchasing an additional 4,436,710 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Lumen Technologies by 52.5% in the second quarter. AQR Capital Management LLC now owns 3,621,874 shares of the technology company's stock valued at $3,712,000 after buying an additional 1,246,289 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.

Lumen Technologies Trading Up 0.4 %

NYSE:LUMN traded up $0.03 on Friday, reaching $7.88. The company's stock had a trading volume of 13,741,348 shares, compared to its average volume of 18,712,902. Lumen Technologies, Inc. has a 1-year low of $0.97 and a 1-year high of $10.33. The business's 50-day moving average price is $7.15 and its two-hundred day moving average price is $4.23. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 53.05.

Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Lumen Technologies had a negative net margin of 16.06% and a negative return on equity of 49.74%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Lumen Technologies's revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, equities analysts forecast that Lumen Technologies, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other Lumen Technologies news, Director James Fowler bought 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director now owns 384,056 shares of the company's stock, valued at $1,805,063.20. This trade represents a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LUMN. The Goldman Sachs Group lifted their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Bank of America increased their target price on Lumen Technologies from $1.00 to $2.00 and gave the stock an "underperform" rating in a report on Thursday, August 8th. Moffett Nathanson lifted their price target on Lumen Technologies from $1.00 to $3.00 and gave the company a "sell" rating in a report on Wednesday, August 7th. TD Cowen decreased their price objective on shares of Lumen Technologies from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered shares of Lumen Technologies from an "equal weight" rating to an "underweight" rating and upped their target price for the stock from $1.75 to $4.00 in a research report on Friday, August 16th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $4.02.

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.