Munro Partners Has $60.11 Million Stock Holdings in LGN $LGN

Munro Partners lifted its holdings in LGN (NASDAQ:LGN) by 1,875.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,396,642 shares of the company’s stock after buying an additional 1,325,957 shares during the period. LGN comprises approximately 1.6% of Munro Partners’ portfolio, making the stock its 24th biggest position. Munro Partners owned about 1.33% of LGN worth $60,111,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of 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 LGN during the fourth quarter valued at $31,000. Freestone Capital Holdings LLC acquired a new stake in LGN during the fourth quarter valued at $1,153,000. Capelight Capital Asset Management LP acquired a new stake in LGN during the fourth quarter valued at $4,089,000. Finally, LBP AM SA acquired a new stake in LGN during the fourth quarter valued at $2,887,000.

LGN Price Performance

Shares of NASDAQ:LGN opened at $86.73 on Tuesday. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24. The business has a 50-day moving average of $81.18. The firm has a market capitalization of $9.37 billion and a PE ratio of 377.09. 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 (NASDAQ:LGN) last announced 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 business had revenue of $1.04 billion during the quarter. LGN’s revenue for the quarter was up 105.2% compared to the same quarter last year. As a group, research analysts expect that LGN will post 1.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LGN shares. Royal Bank Of Canada lifted their price objective on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. BMO Capital Markets lifted their price objective on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Tigress Financial lifted their price objective on LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Loop Capital began coverage on LGN in a research report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price objective for the company. Finally, Barclays boosted their price target on LGN from $45.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 19th. One equities 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. According to data from MarketBeat.com, LGN presently has a consensus rating of “Moderate Buy” and an average target price of $86.40.

LGN Company 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.