Zurcher Kantonalbank Zurich Cantonalbank Buys 6,404 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 243,885 shares of the technology company’s stock after acquiring an additional 6,404 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lumen Technologies were worth $1,295,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Amundi grew its stake in shares of Lumen Technologies by 188.5% during the 4th quarter. Amundi now owns 522,434 shares of the technology company’s stock valued at $2,884,000 after acquiring an additional 341,369 shares during the period. Callan Family Office LLC bought a new position in shares of Lumen Technologies during the 4th quarter valued at approximately $100,000. Raymond James Financial Inc. bought a new position in shares of Lumen Technologies during the 4th quarter valued at approximately $1,624,000. M&T Bank Corp bought a new position in shares of Lumen Technologies during the 4th quarter valued at approximately $66,000. Finally, Atria Investments Inc boosted its stake in Lumen Technologies by 13.3% in the 4th quarter. Atria Investments Inc now owns 147,808 shares of the technology company’s stock worth $785,000 after purchasing an additional 17,328 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LUMN has been the subject of several recent 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. 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 dropped their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Lumen Technologies has an average rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Stock Down 3.4 %

Shares of LUMN opened at $4.90 on Wednesday. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of -97.90 and a beta of 1.28. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The business’s 50 day simple moving average is $5.04 and its 200-day simple moving average is $6.09. 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 (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) 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 analysts expect that Lumen Technologies, Inc. will post -0.87 earnings per share 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.