Shell Asset Management Co. maintained its position in Level 3 Communications, Inc. (NYSE:LVLT) during the second quarter, Holdings Channel reports. The institutional investor owned 15,955 shares of the technology company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Level 3 Communications were worth $946,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Personal Capital Advisors Corp increased its position in Level 3 Communications by 13.7% in the second quarter. Personal Capital Advisors Corp now owns 314,002 shares of the technology company’s stock valued at $18,620,000 after buying an additional 37,902 shares during the period. ING Groep NV boosted its stake in Level 3 Communications by 0.4% in the second quarter. ING Groep NV now owns 22,545 shares of the technology company’s stock valued at $1,337,000 after buying an additional 93 shares in the last quarter. Longfellow Investment Management Co. LLC boosted its stake in Level 3 Communications by 13.3% in the second quarter. Longfellow Investment Management Co. LLC now owns 213,000 shares of the technology company’s stock valued at $12,631,000 after buying an additional 25,000 shares in the last quarter. Bridges Investment Counsel Inc. boosted its stake in Level 3 Communications by 89.9% in the second quarter. Bridges Investment Counsel Inc. now owns 22,583 shares of the technology company’s stock valued at $1,339,000 after buying an additional 10,691 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Level 3 Communications by 155.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,226 shares of the technology company’s stock valued at $132,000 after buying an additional 1,354 shares in the last quarter.

Shares of Level 3 Communications, Inc. (LVLT) opened at 56.55 on Wednesday. The company has a market cap of $20.49 billion, a price-to-earnings ratio of 32.56 and a beta of 1.23. The firm has a 50-day moving average of $59.00 and a 200-day moving average of $58.91. Level 3 Communications, Inc. has a one year low of $44.01 and a one year high of $64.61.

Level 3 Communications (NYSE:LVLT) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.06 billion. Level 3 Communications had a net margin of 7.85% and a return on equity of 5.80%. Level 3 Communications’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Equities research analysts forecast that Level 3 Communications, Inc. will post $1.42 EPS for the current fiscal year.

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Several research firms have issued reports on LVLT. BidaskClub upgraded shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Monday. Barclays PLC reiterated an “equal weight” rating and issued a $59.00 target price (down from $61.00) on shares of Level 3 Communications in a research note on Friday, July 14th. Raymond James Financial, Inc. reiterated an “underperform” rating and issued a $62.82 target price on shares of Level 3 Communications in a research note on Monday, May 15th. Finally, UBS AG reiterated a “buy” rating and issued a $68.00 target price (down from $71.00) on shares of Level 3 Communications in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Level 3 Communications presently has a consensus rating of “Hold” and a consensus price target of $61.36.

In other news, SVP Eric Mortensen sold 1,189 shares of the 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 sale, the senior vice president now owns 77,944 shares of the company’s stock, valued at $4,606,490.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Hector Alonso sold 4,455 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total transaction of $263,290.50. Following the completion of the sale, the insider now directly owns 148,228 shares in the company, valued at approximately $8,760,274.80. The disclosure for this sale can be found here. In the last three months, insiders sold 28,224 shares of company stock worth $1,668,038. Insiders own 0.53% of the company’s stock.

About Level 3 Communications

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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