Candriam Luxembourg S.C.A. decreased its stake in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 48.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 35,740 shares of the technology company’s stock after selling 33,052 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Level 3 Communications were worth $2,119,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its position in shares of Level 3 Communications by 2.2% in the first quarter. Retirement Systems of Alabama now owns 141,220 shares of the technology company’s stock valued at $8,081,000 after buying an additional 3,036 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Level 3 Communications during the first quarter valued at about $244,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Level 3 Communications during the first quarter valued at about $1,217,000. Bank of The West boosted its position in shares of Level 3 Communications by 1.0% in the first quarter. Bank of The West now owns 48,038 shares of the technology company’s stock valued at $2,749,000 after buying an additional 465 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of Level 3 Communications by 11.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 12,987 shares of the technology company’s stock valued at $743,000 after buying an additional 1,289 shares in the last quarter.

Level 3 Communications, Inc. (NYSE LVLT) opened at 56.24 on Friday. 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 capitalization of $20.40 billion, a PE ratio of 31.99 and a beta of 1.23. The firm has a 50 day moving average of $58.50 and a 200 day moving average of $58.85.

Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. Level 3 Communications’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. Equities analysts forecast that Level 3 Communications, Inc. will post $1.41 EPS for the current year.

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LVLT has been the topic of several recent research reports. BidaskClub cut shares of Level 3 Communications from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. 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 research note on Tuesday, July 18th. 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 research note on Friday, July 14th. Zacks Investment Research raised shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Jefferies Group LLC lowered their price objective on shares of Level 3 Communications from $64.00 to $59.00 and set a “hold” rating on the stock in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Level 3 Communications currently has a consensus rating of “Hold” and a consensus price target of $61.36.

In other news, EVP John Michael Ryan sold 5,927 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total value of $350,285.70. Following the completion of the sale, the executive vice president now directly owns 144,994 shares of the company’s stock, valued at approximately $8,569,145.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eric Mortensen sold 1,189 shares of the company’s stock in a transaction dated 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 directly owns 77,944 shares of the company’s stock, valued at $4,606,490.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,224 shares of company stock valued at $1,668,038. 0.49% of the stock is currently owned by company insiders.

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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