Pioneer Investment Management Inc. decreased its position in shares of L-3 Communications Holdings, Inc. The stock had a trading volume of 789,864 shares.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Adams Diversified Equity Fund Inc. now owns 44,200 shares of the utilities provider's stock valued at $1,035,000 after buying an additional 14,900 shares in the last quarter. BlackRock Inc. now owns 4,955,963 shares of the technology company's stock valued at $213,356,000 after buying an additional 4,952,008 shares in the last quarter. Vanguard Group Inc. now owns 8,124,516 shares of the aerospace company's stock valued at $1,342,901,000 after buying an additional 505,941 shares during the last quarter. BidaskClub lowered shares of Cogent Communications Holdings from a buy rating to a hold rating in a research report on Friday, August 4th. The company's revenue was up 2.6% compared to the same quarter previous year. LS Investment Advisors LLC increased its stake in L-3 Communications Holdings by 6.5% in the second quarter. North Star Investment Management Corp. now owns 123,806 shares of the utilities provider's stock worth $2,658,000 after buying an additional 19,785 shares during the period. Finally, CrestPoint Capital Management LLC acquired a new stake in L-3 Communications Holdings during the second quarter valued at about $535,000. Following the completion of the transaction, the chief financial officer now directly owns 77,150 shares of the company's stock, valued at $3,178,580.
Cogent Communications Holdings, Inc., launched on April 17, 2014, is a facility-based provider of Internet access and Internet Protocol (IP) communications services. (LLL) traded up 0.19% on Friday, hitting $183.63. In the last ninety days, insiders sold 67,641 shares of company stock worth $11,511,371. The firm's 50-day moving average is $173.27 and its 200 day moving average is $167.88. The total value of its holdings increased 3.6%. The firm has a market capitalization of $14.36 billion, a P/E ratio of 20.70 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last announced its earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.03 by $0.18. The company had revenue of $169.95 million during the quarter, compared to the consensus estimate of $169.69 million. Cogent Communications Holdings had a negative return on equity of 27.66% and a net margin of 3.39%. During the same period in the prior year, the business earned $0.20 EPS. Shares saw a steep decrease in trading volume of 10.29% under the normal average daily volume. Cogent Communications Holdings, has a 1 year low of $34.23 and a 1 year high of $45.25. the company has 50 Day SMA of $41.64 along with a 200 - day SMA of $41.67. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.63%. L-3 Communications Holdings's dividend payout ratio (DPR) is 33.82%. Amalgamated Bank raised its position in Cogent Communications Holdings by 4.8% in the second quarter. This buyback authorization allows the aerospace company to reacquire up to 11.5% of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.
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A number of equities research analysts have issued reports on the stock. Jefferies Group LLC reaffirmed a "hold" rating and set a $175.00 price objective on shares of L-3 Communications Holdings in a report on Sunday, July 30th. (NYSE:LLL) Upgraded to Conviction-Buy at Goldman Sachs Group, Inc. UBS AG raised Consolidated Communications Holdings to a strong-buy rating in a research report on Friday, June 9th. Raymond James Financial, Inc. raised Consolidated Communications Holdings from an outperform rating to a strong-buy rating and set a $26.00 price target on the stock in a research report on Friday, June 9th. Drexel Hamilton upgraded L-3 Communications Holdings from a "hold" rating to a "buy" rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of "Hold" and a consensus price target of $25.60.
In related news, Chairman Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction dated Monday, July 3rd.
L-3 Communications Holdings declared that its board has authorized a stock repurchase program on Tuesday, May 9th that permits the company to repurchase $1.50 billion in outstanding shares. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Amalgamated Bank now owns 5,756 shares of the technology company's stock valued at $231,000 after buying an additional 265 shares in the last quarter. Oneill now owns $1,764,081 of the stock per the Form 4 SEC filing.