Hiddenite Capital Partners LP Makes New $6.57 Million Investment in LGN $LGN

Hiddenite Capital Partners LP acquired a new position in shares of LGN (NASDAQ:LGN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 152,633 shares of the company’s stock, valued at approximately $6,569,000. LGN makes up 0.9% of Hiddenite Capital Partners LP’s investment portfolio, making the stock its 25th largest holding. Hiddenite Capital Partners LP owned 0.14% of LGN at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. bought a new stake in shares of LGN during the 4th quarter worth approximately $31,000. Comerica Bank bought a new stake in shares of LGN during the 4th quarter worth approximately $192,000. DNB Asset Management AS bought a new stake in shares of LGN during the 4th quarter worth approximately $215,000. Truist Financial Corp bought a new stake in shares of LGN during the 4th quarter worth approximately $276,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of LGN during the 4th quarter worth approximately $297,000.

LGN News Roundup

Here are the key news stories impacting LGN this week:

• Positive Sentiment: BMO Capital Markets raised its price target on Legence from $63 to $100 and reiterated an outperform rating, while BTIG lifted its target to $120 with a buy rating, signaling continued analyst confidence in the stock’s longer-term upside.
• Positive Sentiment: Legence reported record quarterly revenue of $1.04 billion, up 105% year over year, and record backlog and awards of $5.38 billion, suggesting demand remains strong and visibility is improving.
• Positive Sentiment: The company also raised full-year 2026 guidance for revenue and adjusted EBITDA, and set second-quarter revenue guidance above Wall Street expectations, which supports the growth narrative.
• Neutral Sentiment: Management’s Q1 earnings came in below consensus, with adjusted EPS of $0.13 versus the expected $0.19, even though revenue topped estimates.
• Negative Sentiment: Investors are reacting to margin compression, with consolidated gross margin falling year over year, which has raised concerns that profitability may not be scaling as quickly as revenue.
• Negative Sentiment: Some of the weakness also looks like a “sell-the-news” reaction after a strong pre-earnings run-up, as expectations had become elevated heading into the report.

LGN Trading Down 5.3%

LGN opened at $84.30 on Friday. LGN has a 1-year low of $26.96 and a 1-year high of $107.24. The firm has a fifty day simple moving average of $67.94. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03. The company has a market cap of $9.11 billion and a PE ratio of -8,430.00.

LGN (NASDAQ:LGN) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $1.04 billion during the quarter. The firm’s quarterly revenue was up 105.2% on a year-over-year basis. Equities analysts forecast that LGN will post 1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

LGN has been the topic of a number of analyst reports. Stifel Nicolaus upped their price objective on LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Guggenheim upped their price objective on LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. BMO Capital Markets upped their price objective on LGN from $63.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday. The Goldman Sachs Group upped their price objective on LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, Loop Capital initiated coverage on LGN in a research note on Wednesday, April 29th. They set a “buy” rating and a $96.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.90.

LGN Profile

Legence Corp. is a provider of engineering, consulting, installation and maintenance services for mission-critical systems in buildings. The company specializes in designing, fabricating and installing complex HVAC, process piping and other mechanical, electrical and plumbing systems. Legence Corp. is based in SAN JOSE, Calif.