Pioneer Investment Management Inc. decreased its position in shares of L-3 Communications Holdings, Inc. The institutional investor owned 14,687 shares of the aerospace company's stock after buying an additional 1,434 shares during the period. US Bancorp DE's holdings in L-3 Communications Holdings were worth $2,453,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. expanded its stake by buying 3,000 shares an increase of 4.5%. Teachers Advisors LLC now owns 85,546 shares of the utilities provider's stock valued at $2,297,000 after buying an additional 1,814 shares during the last quarter. The business's quarterly revenue was up 2.6% on a year-over-year basis. Louisiana State Employees Retirement System increased its stake in shares of Consolidated Communications Holdings by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 269,152 shares of the technology company's stock valued at $10,793,000 after buying an additional 46,968 shares in the last quarter. Tiaa Cref Investment Management LLC divested its position by selling 3,641 shares a decrease of 3.1%. Following the purchase, the director now directly owns 48,495 shares of the company's stock, valued at approximately $937,408.35. Consolidated Communications Holdings has a 52 week low of $17.41 and a 52 week high of $30.23. (NASDAQ:CCOI) shares saw light trading volume with 333K shares changing hands in the last trading session.
Shares are trading at $43.65 slightly over $41.79, the 50 day moving average and which is slightly above the 200 day moving average of $41.69. The total value of its holdings increased 3.6%. The firm has a market capitalization of $1.36 billion, a PE ratio of 6411.667 and a beta of 0.91.
Cogent Communications Holdings (NASDAQ:CCOI) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.70 billion. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. L-3 Communications Holdings's revenue was up 2.6% compared to the same quarter previous year. Next quarter's EPS is forecasted at $0.16 and the next full year EPS is anticipated to be $0.77. On average, analysts predict that L-3 Communications Holdings, Inc. will post $8.88 earnings per share for the current year. The ex-dividend date is Thursday, October 12th. This represents a $3.00 annualized dividend and a yield of 1.64%. L-3 Communications Holdings's payout ratio is 33.82%.
L-3 Communications Holdings declared that its board has approved a stock repurchase program on Tuesday, May 9th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to buy up to 11.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued. Bessemer Group Inc. bought a new position in L-3 Communications Holdings during the second quarter worth $642,000. The legal version of this story can be read at https://www.com-unik.info/2017/08/11/l-3-communications-holdings-inc-lll-position-cut-by-pioneer-investment-management-inc.html. Zacks Investment Research upgraded Consolidated Communications Holdings from a "sell" rating to a "hold" rating in a report on Wednesday, April 26th. (NYSE:LLL) Upgraded to Conviction-Buy at Goldman Sachs Group, Inc. Royal Bank Of Canada reaffirmed a "hold" rating and set a $178.00 price objective on shares of L-3 Communications Holdings in a report on Friday, June 2nd. Stifel Nicolaus restated a "hold" rating and set a $175.00 price target (up previously from $170.00) on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. L-3 Communications Holdings now has a consensus rating of Buy and an average target price of $182.08. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $42.45.
In other news, insider Michael T. Strianese sold 22,547 shares of the company's stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $40.20, for a total value of $120,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. State Street Corp now owns 3,677,881 shares of the aerospace company's stock worth $607,919,000 after buying an additional 132,410 shares in the last quarter. JPMorgan Chase & Co. now owns 2,125,903 shares of the aerospace company's stock worth $351,390,000 after buying an additional 655,592 shares in the last quarter.
L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is a prime contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment, simulation and training, night vision and image intensification equipment and security and detection systems.