Public Employees Retirement Association of Colorado increased its position in Level 3 Communications, Inc. (NYSE:LVLT) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 59,017 shares of the technology company’s stock after buying an additional 20 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Level 3 Communications were worth $3,500,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. British Columbia Investment Management Corp increased its stake in Level 3 Communications by 11.5% in the first quarter. British Columbia Investment Management Corp now owns 192,038 shares of the technology company’s stock worth $10,988,000 after buying an additional 19,869 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Level 3 Communications by 9.8% in the first quarter. Parametric Portfolio Associates LLC now owns 501,276 shares of the technology company’s stock worth $28,683,000 after buying an additional 44,634 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Level 3 Communications during the first quarter worth $644,000. JPMorgan Chase & Co. increased its stake in Level 3 Communications by 45.6% in the first quarter. JPMorgan Chase & Co. now owns 1,409,023 shares of the technology company’s stock worth $80,623,000 after buying an additional 441,170 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in Level 3 Communications by 26.0% in the first quarter. Global X Management Co. LLC now owns 4,178 shares of the technology company’s stock worth $239,000 after buying an additional 863 shares during the last quarter.

Level 3 Communications, Inc. (NYSE LVLT) opened at 57.38 on Monday. Level 3 Communications, Inc. has a one year low of $44.01 and a one year high of $64.61. The firm has a market cap of $20.79 billion, a P/E ratio of 33.03 and a beta of 1.23. The stock’s 50 day moving average is $59.51 and its 200 day moving average is $58.93.

Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts expect that Level 3 Communications, Inc. will post $1.43 earnings per share for the current year.

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A number of analysts have recently weighed in on LVLT shares. BidaskClub downgraded shares of Level 3 Communications from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Zacks Investment Research downgraded shares of Level 3 Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Barclays PLC reaffirmed an “equal weight” rating and issued a $59.00 price objective (down previously from $61.00) on shares of Level 3 Communications in a report on Friday, July 14th. UBS AG reaffirmed a “buy” rating and issued a $68.00 price objective (down previously from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th. Finally, Jefferies Group LLC decreased their price objective on shares of Level 3 Communications from $64.00 to $59.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $61.49.

In other Level 3 Communications news, VP Sunit S. Patel sold 16,653 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total value of $984,192.30. Following the sale, the vice president now directly owns 545,330 shares in the company, valued at $32,229,003. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Mortensen sold 1,189 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total value of $70,269.90. Following the completion of the sale, the senior vice president now owns 77,944 shares in the company, valued at $4,606,490.40. The disclosure for this sale can be found here. Insiders sold 28,224 shares of company stock worth $1,668,038 over the last quarter. Company insiders own 0.53% of the company’s stock.

Level 3 Communications Company Profile

Level 3 Communications, Inc is a provider of a range of integrated communications services. The Company’s operating segments include North America, EMEA and Latin America. The North America includes operations in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma.

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Institutional Ownership by Quarter for Level 3 Communications (NYSE:LVLT)

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