Envestnet Portfolio Solutions Inc. Has $111,000 Position in Lumen Technologies, Inc. (NYSE:LUMN)

Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 15.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,852 shares of the technology company’s stock after acquiring an additional 2,844 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Lumen Technologies were worth $111,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LUMN. Legacy Investment Solutions LLC bought a new stake in shares of Lumen Technologies during the third quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lumen Technologies during the 3rd quarter valued at about $36,000. Smartleaf Asset Management LLC increased its holdings in Lumen Technologies by 173.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,745 shares of the technology company’s stock worth $36,000 after purchasing an additional 4,277 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Lumen Technologies in the fourth quarter worth approximately $48,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Lumen Technologies in the fourth quarter worth approximately $59,000. 66.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on LUMN shares. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and cut their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a report on Monday, February 10th. Finally, Wells Fargo & Company upgraded 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 report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.59.

Lumen Technologies Stock Down 3.8 %

Shares of NYSE:LUMN opened at $3.94 on Friday. The business has a fifty day moving average price of $4.89 and a two-hundred day moving average price of $6.04. The company has a market capitalization of $4.04 billion, a PE ratio of -78.84 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 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 announced 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 forecast that Lumen Technologies, Inc. will post -0.87 earnings per share for the current year.

Lumen Technologies 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.