Level 3 Communications, Inc. (LVLT) Position Reduced by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Level 3 Communications, Inc. (NYSE:LVLT) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 615,871 shares of the technology company’s stock after selling 4,660 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.17% of Level 3 Communications worth $32,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LVLT. NGAM Advisors L.P. raised its holdings in Level 3 Communications by 63.0% in the second quarter. NGAM Advisors L.P. now owns 34,555 shares of the technology company’s stock worth $2,049,000 after purchasing an additional 13,351 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Level 3 Communications by 5.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 21,629 shares of the technology company’s stock valued at $1,283,000 after purchasing an additional 1,050 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Level 3 Communications by 4.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,750 shares of the technology company’s stock worth $519,000 after acquiring an additional 400 shares during the last quarter. Korea Investment CORP grew its holdings in shares of Level 3 Communications by 21.3% during the 2nd quarter. Korea Investment CORP now owns 321,322 shares of the technology company’s stock worth $19,054,000 after purchasing an additional 56,467 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in shares of Level 3 Communications by 0.5% during the 2nd quarter. Retirement Systems of Alabama now owns 141,929 shares of the technology company’s stock worth $8,416,000 after purchasing an additional 709 shares during the period. Institutional investors own 98.84% of the company’s stock.

A number of research firms have issued reports on LVLT. BidaskClub lowered Level 3 Communications from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Barclays cut their target price on Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 4th. Finally, Zacks Investment Research raised Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $61.55.

Level 3 Communications, Inc. (LVLT) traded up $0.93 during midday trading on Tuesday, hitting $53.63. The stock had a trading volume of 3,119,100 shares, compared to its average volume of 2,423,731. Level 3 Communications, Inc. has a 12 month low of $50.82 and a 12 month high of $64.61. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.94.

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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.

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

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