Raymond James Financial Services Advisors Inc. Lowers Holdings in Level 3 Communications, Inc. (LVLT)

Raymond James Financial Services Advisors Inc. trimmed its position in Level 3 Communications, Inc. (NYSE:LVLT) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,162 shares of the technology company’s stock after selling 581 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Level 3 Communications were worth $484,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LVLT. York Capital Management Global Advisors LLC raised its position in shares of Level 3 Communications by 28.9% in the 2nd quarter. York Capital Management Global Advisors LLC now owns 4,350,004 shares of the technology company’s stock worth $257,955,000 after acquiring an additional 974,832 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Level 3 Communications by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 29,179,420 shares of the technology company’s stock worth $1,730,339,000 after acquiring an additional 749,109 shares in the last quarter. Pentwater Capital Management LP raised its position in shares of Level 3 Communications by 6.8% in the 2nd quarter. Pentwater Capital Management LP now owns 9,320,000 shares of the technology company’s stock worth $552,676,000 after acquiring an additional 590,000 shares in the last quarter. CNH Partners LLC raised its position in shares of Level 3 Communications by 25.9% in the 2nd quarter. CNH Partners LLC now owns 2,834,210 shares of the technology company’s stock worth $168,069,000 after acquiring an additional 582,936 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Level 3 Communications by 23.2% in the 2nd quarter. American Century Companies Inc. now owns 3,009,439 shares of the technology company’s stock worth $178,460,000 after acquiring an additional 565,887 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

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Level 3 Communications, Inc. (LVLT) opened at $53.63 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.94.

Level 3 Communications (NYSE:LVLT) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.03. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share.

Several research analysts have recently commented on LVLT shares. BidaskClub raised Level 3 Communications from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 27th. Zacks Investment Research raised Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Barclays PLC reissued an “equal weight” rating and issued a $59.00 price target (down from $61.00) on shares of Level 3 Communications in a research report on Friday, July 14th. Finally, UBS Group AG (USA) reissued a “buy” rating and issued a $68.00 price target (down from $71.00) on shares of Level 3 Communications in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Level 3 Communications currently has a consensus rating of “Hold” and a consensus target price of $61.55.

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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