Legal & General Group Plc boosted its position in shares of Level 3 Communications, Inc. (NYSE:LVLT) by 3.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,566,697 shares of the technology company’s stock after buying an additional 46,366 shares during the period. Legal & General Group Plc owned about 0.43% of Level 3 Communications worth $92,907,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LVLT. BlackRock Inc. boosted its position in shares of Level 3 Communications by 3,123.2% in the first quarter. BlackRock Inc. now owns 17,934,620 shares of the technology company’s stock valued at $1,026,218,000 after buying an additional 17,378,193 shares during the last quarter. Fiduciary Management Inc. WI raised its stake in Level 3 Communications by 39.9% in the first quarter. Fiduciary Management Inc. WI now owns 7,787,706 shares of the technology company’s stock valued at $445,613,000 after buying an additional 2,220,086 shares during the period. Glazer Capital LLC purchased a new stake in Level 3 Communications during the first quarter valued at about $57,795,000. Bank of America Corp DE raised its stake in Level 3 Communications by 78.1% in the first quarter. Bank of America Corp DE now owns 2,223,398 shares of the technology company’s stock valued at $127,224,000 after buying an additional 975,316 shares during the period. Finally, Vanguard Group Inc. raised its stake in Level 3 Communications by 3.1% in the first quarter. Vanguard Group Inc. now owns 28,430,311 shares of the technology company’s stock valued at $1,626,782,000 after buying an additional 866,828 shares during the period.

Shares of Level 3 Communications, Inc. (LVLT) opened at 54.51 on Thursday. The company has a market capitalization of $19.77 billion, a PE ratio of 31.01 and a beta of 1.23. Level 3 Communications, Inc. has a 12 month low of $44.01 and a 12 month high of $64.61. The stock’s 50 day moving average price is $57.15 and its 200 day moving average price is $58.53.

Level 3 Communications (NYSE:LVLT) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 5.80% and a net margin of 7.85%. Level 3 Communications’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. On average, analysts forecast that Level 3 Communications, Inc. will post $1.42 EPS for the current year.

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Several analysts have issued reports on LVLT shares. Zacks Investment Research raised shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub lowered shares of Level 3 Communications from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Barclays PLC reaffirmed an “equal weight” rating and set a $59.00 price target (down from $61.00) on shares of Level 3 Communications in a research report on Friday, July 14th. UBS AG reaffirmed a “buy” rating and set a $68.00 price target (down from $71.00) on shares of Level 3 Communications in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC reduced 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 research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $61.36.

In other Level 3 Communications news, SVP Eric Mortensen sold 1,189 shares of the stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sunit S. Patel sold 16,653 shares of the stock in a transaction that occurred 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 transaction, 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 28,224 shares of company stock worth $1,668,038 in the last quarter. 0.53% of the stock is currently owned by company insiders.

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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