Ontario Teachers Pension Plan Board purchased a new stake in Level 3 Communications, Inc. (NYSE:LVLT) in the second quarter, according to its most recent filing with the SEC. The fund purchased 66,105 shares of the technology company’s stock, valued at approximately $3,920,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LVLT. Virtu KCG Holdings LLC boosted its position in Level 3 Communications by 0.5% during the 2nd quarter. Virtu KCG Holdings LLC now owns 3,723 shares of the technology company’s stock valued at $221,000 after purchasing an additional 17 shares during the period. Cleararc Capital Inc. boosted its position in Level 3 Communications by 0.7% during the 1st quarter. Cleararc Capital Inc. now owns 7,147 shares of the technology company’s stock valued at $409,000 after purchasing an additional 50 shares during the period. Capstone Asset Management Co. boosted its position in Level 3 Communications by 0.3% during the 2nd quarter. Capstone Asset Management Co. now owns 21,215 shares of the technology company’s stock valued at $1,258,000 after purchasing an additional 60 shares during the period. MAI Capital Management boosted its position in Level 3 Communications by 1.7% during the 2nd quarter. MAI Capital Management now owns 5,314 shares of the technology company’s stock valued at $315,000 after purchasing an additional 90 shares during the period. Finally, ING Groep NV boosted its position in Level 3 Communications by 0.4% during the 2nd quarter. ING Groep NV now owns 22,545 shares of the technology company’s stock valued at $1,337,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 98.83% of the company’s stock.

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In related 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 sale, 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 can be accessed 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 stock was sold at an average price of $59.10, for a total value of $984,192.30. Following the sale, the vice president now owns 545,330 shares in the company, valued at $32,229,003. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,224 shares of company stock worth $1,668,038. 0.49% of the stock is owned by corporate insiders.

Shares of Level 3 Communications, Inc. (NYSE:LVLT) opened at 53.29 on Friday. The stock has a 50 day moving average price of $54.72 and a 200-day moving average price of $58.02. The company has a market cap of $19.33 billion, a P/E ratio of 30.31 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 results on Wednesday, August 2nd. The technology company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.03. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company earned $0.53 EPS. Analysts predict that Level 3 Communications, Inc. will post $1.43 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on LVLT shares. BidaskClub lowered Level 3 Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. UBS AG restated a “buy” rating and set a $68.00 price objective (down previously from $71.00) on shares of Level 3 Communications in a research report on Tuesday, July 18th. Barclays PLC restated an “equal weight” rating and set a $59.00 price objective (down previously from $61.00) on shares of Level 3 Communications in a research report on Friday, July 14th. Finally, Zacks Investment Research upgraded Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. Level 3 Communications has an average rating of “Hold” and an average target price of $61.67.

Level 3 Communications 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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