Schwab Charles Investment Management Inc. raised its stake in Level 3 Communications, Inc. (NYSE:LVLT) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 949,825 shares of the technology company’s stock after buying an additional 52,658 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.26% of Level 3 Communications worth $56,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LVLT. British Columbia Investment Management Corp raised its position in Level 3 Communications by 11.5% in the first quarter. British Columbia Investment Management Corp now owns 192,038 shares of the technology company’s stock valued at $10,988,000 after buying an additional 19,869 shares during the period. Parametric Portfolio Associates LLC raised its position in Level 3 Communications by 9.8% in the first quarter. Parametric Portfolio Associates LLC now owns 501,276 shares of the technology company’s stock valued at $28,683,000 after buying an additional 44,634 shares during the period. Longfellow Investment Management Co. LLC raised its position in Level 3 Communications by 13.3% in the second quarter. Longfellow Investment Management Co. LLC now owns 213,000 shares of the technology company’s stock valued at $12,631,000 after buying an additional 25,000 shares during the period. Assenagon Asset Management S.A. acquired a new position in Level 3 Communications during the first quarter valued at about $644,000. Finally, JPMorgan Chase & Co. raised its position in Level 3 Communications by 45.6% in the first quarter. JPMorgan Chase & Co. now owns 1,409,023 shares of the technology company’s stock valued at $80,623,000 after buying an additional 441,170 shares during the period. 98.74% of the stock is owned by hedge funds and other institutional investors.

Shares of Level 3 Communications, Inc. (LVLT) opened at 54.85 on Friday. The stock’s 50 day moving average is $56.38 and its 200 day moving average is $58.36. The company has a market capitalization of $19.89 billion, a PE ratio of 31.20 and a beta of 1.23. Level 3 Communications, Inc. has a 1-year low of $44.01 and a 1-year high of $64.61.

Level 3 Communications (NYSE:LVLT) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.03. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Level 3 Communications had a net margin of 7.85% and a return on equity of 5.80%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. On average, equities research analysts anticipate that Level 3 Communications, Inc. will post $1.42 EPS for the current fiscal year.

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Several research analysts recently 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 reissued an “equal weight” rating and issued a $59.00 price target (down previously from $61.00) on shares of Level 3 Communications in a research report on Friday, July 14th. UBS AG reissued a “buy” rating and issued a $68.00 price target (down previously from $71.00) on shares of Level 3 Communications in a research report on Tuesday, July 18th. Finally, Raymond James Financial, Inc. reissued an “underperform” rating and issued a $62.82 price target on shares of Level 3 Communications in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Level 3 Communications currently has an average rating of “Hold” and an average price target of $61.67.

In related news, SVP Eric Mortensen sold 1,189 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were 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 directly owns 77,944 shares in the company, valued at approximately $4,606,490.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sunit S. Patel sold 16,653 shares of the company’s 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 $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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,224 shares of company stock valued at $1,668,038. 0.49% of the stock is owned by corporate 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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