Oregon Public Employees Retirement Fund Sells 4,098 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Oregon Public Employees Retirement Fund cut its position in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 238,781 shares of the technology company’s stock after selling 4,098 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Lumen Technologies were worth $1,268,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC grew its holdings in shares of Lumen Technologies by 20.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock worth $78,000 after buying an additional 2,489 shares in the last quarter. Olympiad Research LP bought a new position in shares of Lumen Technologies during the fourth quarter worth about $107,000. Allianz Asset Management GmbH grew its stake in Lumen Technologies by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 7,790,277 shares of the technology company’s stock valued at $41,366,000 after purchasing an additional 1,710,373 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in Lumen Technologies in the fourth quarter valued at approximately $781,000. Finally, Handelsbanken Fonder AB grew its stake in Lumen Technologies by 20.3% in the fourth quarter. Handelsbanken Fonder AB now owns 249,700 shares of the technology company’s stock valued at $1,326,000 after purchasing an additional 42,100 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LUMN has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. TD Cowen decreased their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group raised their price target on Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. 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 note on Friday, February 21st. Finally, Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their price target for the company from $8.00 to $6.50 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Stock Performance

Shares of NYSE LUMN opened at $4.72 on Friday. The company has a market capitalization of $4.78 billion, a P/E ratio of -94.28 and a beta of 1.28. The stock has a 50 day moving average of $5.19 and a 200-day moving average of $6.16. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 37.70. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. As a group, equities research analysts predict that Lumen Technologies, Inc. will post -0.87 EPS for the current year.

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.