Teachers Retirement System of The State of Kentucky continued to hold its position in shares of Level 3 Communications, Inc. (NYSE:LVLT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,940 shares of the technology company’s stock at the end of the second quarter. Teachers Retirement System of The State of Kentucky’s holdings in Level 3 Communications were worth $1,953,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of LVLT. Parametric Portfolio Associates LLC boosted its holdings in Level 3 Communications by 18.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 594,741 shares of the technology company’s stock valued at $35,268,000 after purchasing an additional 93,465 shares during the period. Harvest Management LLC bought a new position in shares of Level 3 Communications during the second quarter worth approximately $3,605,000. Quantbot Technologies LP bought a new position in shares of Level 3 Communications during the second quarter worth approximately $1,280,000. California Public Employees Retirement System increased its holdings in shares of Level 3 Communications by 2.9% during the second quarter. California Public Employees Retirement System now owns 582,300 shares of the technology company’s stock worth $34,530,000 after purchasing an additional 16,200 shares during the period. Finally, FMR LLC increased its holdings in shares of Level 3 Communications by 3.3% during the second quarter. FMR LLC now owns 4,428,040 shares of the technology company’s stock worth $262,583,000 after purchasing an additional 139,962 shares during the period. Hedge funds and other institutional investors own 98.83% of the company’s stock.

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Several equities research analysts recently issued reports on LVLT shares. BidaskClub upgraded Level 3 Communications from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 27th. UBS AG reissued a “buy” rating and set a $68.00 price target (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 note on Friday, July 14th. Finally, Zacks Investment Research upgraded Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.67.

Level 3 Communications, Inc. (NYSE LVLT) opened at 55.30 on Wednesday. The stock’s 50 day moving average price is $53.69 and its 200-day moving average price is $57.81. The firm has a market cap of $20.06 billion, a PE ratio of 31.46 and a beta of 1.21. Level 3 Communications, Inc. has a 12-month low of $44.01 and a 12-month high of $64.61.

Level 3 Communications (NYSE:LVLT) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, topping 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 business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. Level 3 Communications’s revenue was up .2% on a year-over-year basis. Equities research analysts anticipate that Level 3 Communications, Inc. will post $1.43 earnings per share for the current fiscal year.

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.

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

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