Vestcor Inc Invests $245,000 in Lumen Technologies, Inc. (NYSE:LUMN)

Vestcor Inc bought a new position in shares of Lumen Technologies, Inc. (NYSE:LUMN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 46,114 shares of the technology company’s stock, valued at approximately $245,000.

Several other institutional investors have also recently added to or reduced their stakes in LUMN. Los Angeles Capital Management LLC raised its holdings in 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 purchasing an additional 2,489 shares in the last quarter. Avior Wealth Management LLC raised its stake in Lumen Technologies by 6.8% during the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock worth $222,000 after acquiring an additional 2,657 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Lumen Technologies by 8.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 39,037 shares of the technology company’s stock valued at $207,000 after acquiring an additional 3,109 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in Lumen Technologies by 18.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 24,308 shares of the technology company’s stock valued at $173,000 after acquiring an additional 3,756 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Lumen Technologies by 14.8% during the fourth quarter. Ballentine Partners LLC now owns 30,074 shares of the technology company’s stock worth $160,000 after purchasing an additional 3,868 shares during the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Lumen Technologies Price Performance

Lumen Technologies stock opened at $5.08 on Tuesday. The stock has a market capitalization of $5.15 billion, a PE ratio of -101.48 and a beta of 1.28. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. Lumen Technologies, Inc. has a 12 month low of $0.97 and a 12 month high of $10.33. The business has a 50 day simple moving average of $5.05 and a 200-day simple moving average of $6.10.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share 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 analysts predict that Lumen Technologies, Inc. will post -0.87 earnings per share for the current 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.