LGN $LGN Shares Sold by UBS Group AG

UBS Group AG lowered its holdings in LGN (NASDAQ:LGN) by 31.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,038 shares of the company’s stock after selling 39,883 shares during the quarter. UBS Group AG’s holdings in LGN were worth $3,660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LGN. Harbor Capital Advisors Inc. acquired a new stake in shares of LGN in the fourth quarter worth $1,220,000. Assetmark Inc. acquired a new stake in shares of LGN in the fourth quarter worth $31,000. Freestone Capital Holdings LLC acquired a new stake in shares of LGN in the fourth quarter worth $1,153,000. Capelight Capital Asset Management LP acquired a new stake in shares of LGN in the fourth quarter worth $4,089,000. Finally, LBP AM SA acquired a new stake in shares of LGN in the fourth quarter worth $2,887,000.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of LGN from $63.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Glj Research assumed coverage on shares of LGN in a research note on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective on the stock. Barclays increased their price objective on shares of LGN from $45.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Tigress Financial increased their price target on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Finally, Loop Capital assumed coverage on shares of LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, LGN currently has a consensus rating of “Moderate Buy” and an average price target of $86.40.

LGN Stock Down 0.5%

LGN opened at $81.58 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $8.81 billion and a P/E ratio of 354.70. LGN has a 52-week low of $26.96 and a 52-week high of $107.24. The firm’s fifty day moving average is $70.98.

LGN (NASDAQ:LGN) last posted its quarterly earnings data 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 business had revenue of $1.04 billion for the quarter. The company’s revenue was up 105.2% compared to the same quarter last year. On average, research analysts forecast that LGN will post 1.24 EPS for the current year.

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.