Summit Creek Advisors LLC Buys New Stake in LGN $LGN

Summit Creek Advisors LLC bought a new stake in shares of LGN (NASDAQ:LGN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 247,765 shares of the company’s stock, valued at approximately $10,664,000.

Other institutional investors also recently bought and sold shares of the company. Freestone Capital Holdings LLC purchased a new position in LGN during the fourth quarter valued at $1,153,000. Pictet Asset Management Holding SA purchased a new position in LGN during the fourth quarter valued at $1,722,000. Harbor Capital Advisors Inc. bought a new position in LGN during the fourth quarter valued at $1,220,000. Asset Management One Co. Ltd. bought a new position in LGN during the fourth quarter valued at $3,681,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in LGN during the fourth quarter valued at $3,179,000.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Guggenheim increased their price objective on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Glj Research assumed coverage on shares of LGN in a research report on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective for the company. Loop Capital assumed coverage on shares of LGN in a research report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price objective for the company. Finally, Royal Bank Of Canada increased their price objective on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. One research 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.40.

LGN Trading Up 2.6%

LGN stock opened at $82.46 on Thursday. The business has a 50-day moving average price of $69.77. The company has a market cap of $8.91 billion and a price-to-earnings ratio of 358.52. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06. LGN has a 12-month low of $26.96 and a 12-month high of $107.24.

LGN (NASDAQ:LGN) last released its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.04 billion for the quarter. The firm’s quarterly revenue was up 105.2% on a year-over-year basis. As a group, sell-side analysts predict that LGN will post 1.24 earnings per share for the current fiscal year.

About LGN

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.