California Public Employees Retirement System lifted its stake in Level 3 Communications, Inc. (NYSE:LVLT) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 607,225 shares of the technology company’s stock after acquiring an additional 24,925 shares during the quarter. California Public Employees Retirement System owned 0.17% of Level 3 Communications worth $32,359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LVLT. Global X Management Co. LLC grew its stake in shares of Level 3 Communications by 12.7% in the second quarter. Global X Management Co. LLC now owns 4,710 shares of the technology company’s stock worth $279,000 after acquiring an additional 532 shares during the period. Schwab Charles Investment Management Inc. grew its position in Level 3 Communications by 5.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 949,825 shares of the technology company’s stock valued at $56,325,000 after buying an additional 52,658 shares during the period. Legal & General Group Plc grew its position in Level 3 Communications by 3.0% during the second quarter. Legal & General Group Plc now owns 1,566,697 shares of the technology company’s stock valued at $92,907,000 after buying an additional 46,366 shares during the period. Gamco Investors INC. ET AL grew its position in Level 3 Communications by 13.2% during the second quarter. Gamco Investors INC. ET AL now owns 90,400 shares of the technology company’s stock valued at $5,361,000 after buying an additional 10,550 shares during the period. Finally, KBC Group NV grew its position in Level 3 Communications by 1.4% during the second quarter. KBC Group NV now owns 31,211 shares of the technology company’s stock valued at $1,851,000 after buying an additional 444 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Shares of Level 3 Communications, Inc. (NYSE:LVLT) opened at $53.63 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.79 and a quick ratio of 1.79. Level 3 Communications, Inc. has a 12-month low of $50.82 and a 12-month high of $64.61.

LVLT has been the subject of several recent research reports. BidaskClub lowered shares of Level 3 Communications from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 9th. Barclays cut their target price on shares of Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Level 3 Communications currently has an average rating of “Hold” and an average price target of $61.47.

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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.

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

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