Thrivent Financial for Lutherans Decreases Stock Holdings in Lumen Technologies, Inc. (NYSE:LUMN)

Thrivent Financial for Lutherans lessened its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 968,838 shares of the technology company’s stock after selling 87,897 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lumen Technologies were worth $5,145,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC grew its position in Lumen Technologies by 20.3% in the 4th 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 during the period. Avior Wealth Management LLC boosted its stake in shares of Lumen Technologies by 6.8% in the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock worth $222,000 after buying an additional 2,657 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Lumen Technologies by 15.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock valued at $111,000 after acquiring an additional 2,844 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings 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 period. Finally, Ballentine Partners LLC boosted its position in Lumen Technologies by 14.8% in 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. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Stock Performance

Shares of NYSE LUMN opened at $4.86 on Tuesday. 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 1 year low of $0.97 and a 1 year high of $10.33. The firm has a fifty day moving average price of $5.00 and a 200-day moving average price of $6.08. The stock has a market cap of $4.92 billion, a PE ratio of -97.10 and a beta of 1.28.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities analysts anticipate that Lumen Technologies, Inc. will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LUMN has been the topic of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Citigroup upgraded shares of Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $8.00 to $6.50 in a research 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 price objective for the company in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Lumen Technologies presently has an average rating of “Hold” and a consensus target price of $4.59.

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.