Aviva PLC reduced its position in Level 3 Communications, Inc. (NYSE:LVLT) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 184,398 shares of the technology company’s stock after selling 240 shares during the period. Aviva PLC owned approximately 0.05% of Level 3 Communications worth $10,937,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in shares of Level 3 Communications during the first quarter worth about $244,000. 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 worth $8,081,000 after buying an additional 3,036 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Level 3 Communications by 5.9% in the first quarter. Nationwide Fund Advisors now owns 155,673 shares of the technology company’s stock worth $8,908,000 after buying an additional 8,679 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Level 3 Communications by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,159 shares of the technology company’s stock worth $436,000 after buying an additional 248 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Level 3 Communications by 7.4% in the first quarter. ProShare Advisors LLC now owns 66,742 shares of the technology company’s stock worth $3,819,000 after buying an additional 4,585 shares during the last quarter.

Shares of Level 3 Communications, Inc. (NYSE LVLT) opened at 54.29 on Friday. Level 3 Communications, Inc. has a 52 week low of $44.01 and a 52 week high of $64.61. The firm has a market cap of $19.69 billion, a PE ratio of 30.88 and a beta of 1.23. The stock has a 50 day moving average price of $56.87 and a 200 day moving average price of $58.47.

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 the Zacks’ 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 firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts expect that Level 3 Communications, Inc. will post $1.42 earnings per share for the current year.

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A number of equities analysts have issued reports on LVLT shares. Jefferies Group LLC lowered their target price on Level 3 Communications from $64.00 to $59.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Raymond James Financial, Inc. reaffirmed an “underperform” rating and issued a $62.82 target price on shares of Level 3 Communications in a report on Monday, May 15th. BidaskClub raised Level 3 Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. Zacks Investment Research cut Level 3 Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $59.00 target price (down previously from $61.00) on shares of Level 3 Communications in a report on Friday, July 14th. Two 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’s stock. The stock currently has an average rating of “Hold” and an average target price of $61.67.

In other Level 3 Communications news, SVP Eric Mortensen sold 1,189 shares of the firm’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 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 can be accessed through the SEC website. Also, VP Sunit S. Patel sold 16,653 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total transaction of $984,192.30. Following the completion of 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. In the last three months, insiders sold 28,224 shares of company stock valued at $1,668,038. 0.49% of the stock is owned by 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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