Citizens Financial Group Inc RI maintained its stake in Level 3 Communications, Inc. (NYSE:LVLT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,666 shares of the technology company’s stock at the close of the second quarter. Citizens Financial Group Inc RI’s holdings in Level 3 Communications were worth $277,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Hosking Partners LLP increased its holdings in shares of Level 3 Communications by 1.6% in the 2nd quarter. Hosking Partners LLP now owns 418,978 shares of the technology company’s stock valued at $24,845,000 after acquiring an additional 6,665 shares during the period. KBC Group NV increased its holdings in shares of Level 3 Communications by 1.4% in the 2nd quarter. KBC Group NV now owns 31,211 shares of the technology company’s stock valued at $1,851,000 after acquiring an additional 444 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Level 3 Communications by 7.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,760 shares of the technology company’s stock valued at $4,196,000 after acquiring an additional 4,697 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of Level 3 Communications by 9.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 501,276 shares of the technology company’s stock valued at $28,683,000 after acquiring an additional 44,634 shares during the period. Finally, Longfellow Investment Management Co. LLC increased its holdings in shares of Level 3 Communications by 13.3% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 213,000 shares of the technology company’s stock valued at $12,631,000 after acquiring an additional 25,000 shares during the period. Institutional investors and hedge funds own 98.74% of the company’s stock.

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Shares of Level 3 Communications, Inc. (LVLT) opened at 53.03 on Thursday. The stock has a 50 day moving average price of $55.52 and a 200-day moving average price of $58.18. The firm has a market cap of $19.23 billion, a PE ratio of 30.16 and a beta of 1.23. Level 3 Communications, Inc. has a 52-week low of $44.01 and a 52-week high of $64.61.

Level 3 Communications (NYSE:LVLT) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates 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 for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. On average, equities analysts anticipate that Level 3 Communications, Inc. will post $1.43 EPS for the current fiscal year.

In related news, VP Sunit S. Patel sold 16,653 shares of the 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 transaction, the vice president now owns 545,330 shares of the company’s stock, valued at $32,229,003. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the senior vice president now directly owns 77,944 shares in the company, valued at approximately $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 in the last three months. 0.49% of the stock is currently owned by corporate insiders.

LVLT has been the topic of a number of analyst reports. BidaskClub upgraded Level 3 Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. Zacks Investment Research downgraded Level 3 Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Barclays PLC reiterated an “equal weight” rating and issued a $59.00 price target (down from $61.00) on shares of Level 3 Communications in a report on Friday, July 14th. Finally, UBS AG reiterated a “buy” rating and issued a $68.00 price target (down from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $61.67.

Level 3 Communications 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.

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

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