Bank of Nova Scotia Purchases 3,069 Shares of Lumen Technologies, Inc. (NYSE:LUMN)

Bank of Nova Scotia increased its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 28.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,788 shares of the technology company’s stock after acquiring an additional 3,069 shares during the quarter. Bank of Nova Scotia’s holdings in Lumen Technologies were worth $73,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of LUMN. Y Intercept Hong Kong Ltd bought a new stake in shares of Lumen Technologies in the third quarter valued at approximately $86,000. Coldstream Capital Management Inc. bought a new stake in shares of Lumen Technologies during the 3rd quarter valued at $125,000. Virtu Financial LLC acquired a new stake in shares of Lumen Technologies during the 3rd quarter worth $473,000. Franklin Resources Inc. increased its position in shares of Lumen Technologies by 66.8% in the third quarter. Franklin Resources Inc. now owns 560,793 shares of the technology company’s stock worth $3,982,000 after purchasing an additional 224,506 shares during the period. Finally, Diversified Trust Co acquired a new position in Lumen Technologies in the fourth quarter valued at about $482,000. Institutional investors own 66.19% of the company’s stock.

Analyst Upgrades and Downgrades

LUMN has been the topic of several recent analyst reports. Citigroup raised shares of Lumen Technologies from a “neutral” rating to a “buy” rating and decreased their target price for the company from $8.00 to $6.50 in a report on Wednesday, February 26th. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research report on Monday, February 10th. Finally, Wells Fargo & Company raised Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.59.

Lumen Technologies Trading Down 1.9 %

NYSE LUMN opened at $3.41 on Wednesday. The company has a market cap of $3.49 billion, a price-to-earnings ratio of -68.09 and a beta of 1.29. Lumen Technologies, Inc. has a twelve month low of $0.97 and a twelve month high of $10.33. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70. The business’s fifty day moving average is $4.42 and its 200 day moving average is $5.75.

Lumen Technologies (NYSE:LUMN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share 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, sell-side analysts expect that Lumen Technologies, Inc. will post -0.87 EPS 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.