Three Peaks Capital Management LLC trimmed its position in Level 3 Communications, Inc. (NYSE:LVLT) by 2.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 171,370 shares of the technology company’s stock after selling 4,500 shares during the period. Three Peaks Capital Management LLC’s holdings in Level 3 Communications were worth $9,132,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Davidson Investment Advisors lifted its stake in shares of Level 3 Communications by 30.7% in the 3rd quarter. Davidson Investment Advisors now owns 230,265 shares of the technology company’s stock valued at $12,270,000 after acquiring an additional 54,023 shares during the last quarter. Norinchukin Bank The increased its holdings in Level 3 Communications by 7.6% in the third quarter. Norinchukin Bank The now owns 21,866 shares of the technology company’s stock valued at $1,165,000 after purchasing an additional 1,553 shares during the period. ING Groep NV increased its holdings in Level 3 Communications by 40.9% in the third quarter. ING Groep NV now owns 31,763 shares of the technology company’s stock valued at $1,693,000 after purchasing an additional 9,218 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Level 3 Communications by 2.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,625 shares of the technology company’s stock valued at $3,870,000 after purchasing an additional 1,865 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Level 3 Communications by 48.4% in the third quarter. Pacer Advisors Inc. now owns 7,437 shares of the technology company’s stock valued at $396,000 after purchasing an additional 2,426 shares during the period. Institutional investors own 98.84% of the company’s stock.

Level 3 Communications, Inc. (NYSE:LVLT) remained flat at $$53.63 during midday trading on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.94.

LVLT has been the subject of a number of recent research reports. Barclays PLC decreased their price objective on Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, October 4th. Zacks Investment Research upgraded Level 3 Communications from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Finally, BidaskClub upgraded Level 3 Communications from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Level 3 Communications currently has an average rating of “Hold” and a consensus price target of $61.55.

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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.

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

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