Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Lumen Technologies, Inc. (NYSE:LUMN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 243,885 shares of the technology company’s stock after buying 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 quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LUMN. Los Angeles Capital Management LLC purchased a new stake in Lumen Technologies in the third quarter worth $87,000. GSA Capital Partners LLP bought a new stake in shares of Lumen Technologies during the third quarter worth $183,000. Victory Capital Management Inc. lifted its position in shares of Lumen Technologies by 1,081.0% during the third quarter. Victory Capital Management Inc. now owns 2,368,911 shares of the technology company’s stock worth $16,819,000 after purchasing an additional 2,168,325 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Lumen Technologies by 23.3% during the third quarter. Oppenheimer & Co. Inc. now owns 35,928 shares of the technology company’s stock worth $255,000 after purchasing an additional 6,782 shares during the last quarter. Finally, Natixis Advisors LLC bought a new stake in shares of Lumen Technologies during the third quarter worth $1,071,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

LUMN opened at $4.90 on Wednesday. The business’s 50-day moving average is $5.04 and its two-hundred day moving average is $6.09. Lumen Technologies, Inc. has a 1 year low of $0.97 and a 1 year high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20. The firm has a market capitalization of $4.96 billion, a PE ratio of -97.90 and a beta of 1.28.

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

Wall Street Analysts Forecast Growth

LUMN has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.25 target price on shares of Lumen Technologies in a research report on Monday, February 10th. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price for the company in a research report on Friday, February 21st. Finally, Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and cut their price target for the company from $8.00 to $6.50 in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Lumen Technologies presently has a consensus rating of “Hold” and an average 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.