UBS Asset Management Americas Inc. raised its holdings in Level 3 Communications, Inc. (NYSE:LVLT) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 807,914 shares of the technology company’s stock after acquiring an additional 50,474 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.22% of Level 3 Communications worth $47,909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mutual of America Capital Management LLC lifted its stake in Level 3 Communications by 12.5% in the second quarter. Mutual of America Capital Management LLC now owns 38,714 shares of the technology company’s stock valued at $2,296,000 after acquiring an additional 4,299 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Level 3 Communications by 0.9% in the second quarter. New York State Common Retirement Fund now owns 657,200 shares of the technology company’s stock valued at $38,972,000 after acquiring an additional 5,999 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Level 3 Communications by 4.4% in the second quarter. PNC Financial Services Group Inc. now owns 30,789 shares of the technology company’s stock valued at $1,826,000 after acquiring an additional 1,288 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Level 3 Communications in the second quarter valued at approximately $1,793,000. Finally, Amalgamated Bank lifted its stake in Level 3 Communications by 61.8% in the second quarter. Amalgamated Bank now owns 33,195 shares of the technology company’s stock valued at $1,968,000 after acquiring an additional 12,682 shares during the last quarter. Hedge funds and other institutional investors own 98.83% of the company’s stock.

Level 3 Communications, Inc. (NYSE:LVLT) opened at 52.77 on Monday. Level 3 Communications, Inc. has a 1-year low of $44.01 and a 1-year high of $64.61. The company’s 50-day moving average is $54.72 and its 200 day moving average is $58.02. The firm has a market capitalization of $19.14 billion, a PE ratio of 30.02 and a beta of 1.23.

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

LVLT has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Level 3 Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub cut shares of Level 3 Communications from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Barclays PLC restated an “equal weight” rating and issued a $59.00 price objective (down from $61.00) on shares of Level 3 Communications in a research note on Friday, July 14th. Finally, UBS AG restated a “buy” rating and issued a $68.00 price objective (down from $71.00) on shares of Level 3 Communications in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $61.67.

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In other Level 3 Communications news, SVP Eric Mortensen sold 1,189 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total transaction of $70,269.90. Following the completion of the sale, the senior vice president now owns 77,944 shares of the company’s stock, valued at approximately $4,606,490.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sunit S. Patel sold 16,653 shares of the firm’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 $984,192.30. Following the sale, the vice president now directly owns 545,330 shares of the company’s stock, valued at approximately $32,229,003. The disclosure for this sale can be found here. Insiders have sold a total of 28,224 shares of company stock valued at $1,668,038 in the last ninety days. 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.

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

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