Thrivent Financial for Lutherans Buys 55,454 Shares of Lumen Technologies, Inc. $LUMN

Thrivent Financial for Lutherans raised its stake in Lumen Technologies, Inc. (NYSE:LUMN) by 8.1% in the fourth quarter, Holdings Channel reports. The firm owned 738,305 shares of the technology company’s stock after acquiring an additional 55,454 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lumen Technologies were worth $5,737,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. grew its stake in Lumen Technologies by 49.1% in the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,351 shares in the last quarter. International Assets Investment Management LLC bought a new position in Lumen Technologies in the fourth quarter valued at approximately $30,000. Fifth Third Bancorp grew its stake in Lumen Technologies by 24.5% in the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,051 shares in the last quarter. Bessemer Group Inc. grew its stake in Lumen Technologies by 15.5% in the third quarter. Bessemer Group Inc. now owns 7,209 shares of the technology company’s stock valued at $43,000 after purchasing an additional 968 shares in the last quarter. Finally, Orion Capital Management LLC bought a new position in Lumen Technologies in the fourth quarter valued at approximately $50,000. 66.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Lumen Technologies from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. TD Cowen raised their price objective on Lumen Technologies from $8.00 to $9.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. UBS Group raised their price objective on Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Citigroup cut their price objective on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, Wells Fargo & Company raised their price objective on Lumen Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $7.91.

Lumen Technologies Trading Up 1.4%

NYSE:LUMN opened at $9.44 on Friday. The stock has a market cap of $9.72 billion, a P/E ratio of -5.42 and a beta of 1.65. The stock has a 50 day simple moving average of $7.96 and a 200 day simple moving average of $8.10. Lumen Technologies, Inc. has a 1-year low of $3.37 and a 1-year high of $11.95.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, May 5th. The technology company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.83 billion. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.13) earnings per share. As a group, sell-side analysts forecast that Lumen Technologies, Inc. will post -0.39 EPS for the current year.

Lumen Technologies Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.