Principal Financial Group Inc. Purchases 128,172 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Principal Financial Group Inc. boosted its position in Lumen Technologies, Inc. (NYSE:LUMN) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,921,381 shares of the technology company’s stock after purchasing an additional 128,172 shares during the period. Principal Financial Group Inc. owned about 0.48% of Lumen Technologies worth $26,133,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. bought a new stake in Lumen Technologies in the 4th quarter worth about $69,000. Allworth Financial LP grew its position in shares of Lumen Technologies by 115.3% during the 4th quarter. Allworth Financial LP now owns 12,910 shares of the technology company’s stock valued at $74,000 after acquiring an additional 6,914 shares during the period. bLong Financial LLC bought a new position in shares of Lumen Technologies during the 4th quarter valued at approximately $110,000. Congress Asset Management Co. grew its position in shares of Lumen Technologies by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 421,720 shares of the technology company’s stock valued at $2,239,000 after acquiring an additional 56,589 shares during the period. Finally, Compagnie Lombard Odier SCmA grew its position in shares of Lumen Technologies by 50.0% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 45,000 shares of the technology company’s stock valued at $239,000 after acquiring an additional 15,000 shares during the period. 66.19% of the stock is owned by institutional investors.

Lumen Technologies Stock Performance

NYSE LUMN opened at $4.68 on Friday. 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 stock has a market capitalization of $4.74 billion, a PE ratio of -93.48 and a beta of 1.28. The company’s 50 day simple moving average is $5.34 and its two-hundred day simple moving average is $6.19.

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, topping 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%. Analysts predict 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 subject of a number of research reports. The Goldman Sachs Group increased their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. TD Cowen reduced their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Citigroup increased their target price on shares of Lumen Technologies from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Wells Fargo & Company raised shares of 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a research note on Monday, February 10th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.78.

Lumen Technologies Company Profile

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.