Lumen Technologies, Inc. (NYSE:LUMN) Holdings Reduced by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in Lumen Technologies, Inc. (NYSE:LUMN - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 968,838 shares of the technology company's stock after selling 87,897 shares during the period. Thrivent Financial for Lutherans owned approximately 0.10% of Lumen Technologies worth $5,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC purchased a new stake in Lumen Technologies during the fourth quarter worth about $1,139,000. Strategic Financial Concepts LLC boosted its stake in shares of Lumen Technologies by 430.7% during the 4th quarter. Strategic Financial Concepts LLC now owns 179,335 shares of the technology company's stock worth $952,000 after acquiring an additional 145,542 shares in the last quarter. Polianta Ltd acquired a new stake in shares of Lumen Technologies in the 4th quarter worth approximately $692,000. Mariner Investment Group LLC purchased a new position in Lumen Technologies in the 4th quarter valued at approximately $531,000. Finally, Quantbot Technologies LP acquired a new position in Lumen Technologies during the third quarter worth $733,000. Hedge funds and other institutional investors own 66.19% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LUMN shares. Wells Fargo & Company upgraded Lumen Technologies from an "underweight" rating to an "equal weight" rating and set a $5.00 price target for the company in a research report on Friday, February 21st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Citigroup upgraded Lumen Technologies from a "neutral" rating to a "buy" rating and reduced their target price for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $4.59.

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Lumen Technologies Stock Down 3.8 %

Shares of LUMN traded down $0.16 during trading on Friday, reaching $3.94. The company's stock had a trading volume of 15,867,606 shares, compared to its average volume of 18,847,012. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month 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 cap of $4.04 billion, a price-to-earnings ratio of -78.84 and a beta of 1.28. The company has a fifty day moving average of $4.92 and a two-hundred day moving average of $6.05.

Lumen Technologies (NYSE:LUMN - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, topping analysts' consensus estimates 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%. On average, sell-side analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current fiscal year.

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.