Vanguard Group Inc. Boosts Stock Position in LGN $LGN

Vanguard Group Inc. increased its stake in LGN (NASDAQ:LGN) by 78.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,227,670 shares of the company’s stock after acquiring an additional 1,415,282 shares during the quarter. Vanguard Group Inc.’s holdings in LGN were worth $138,919,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Capelight Capital Asset Management LP purchased a new position in shares of LGN in the fourth quarter valued at approximately $4,089,000. Asset Management One Co. Ltd. acquired a new position in LGN in the 4th quarter valued at about $3,681,000. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of LGN by 1,073.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock worth $3,732,000 after acquiring an additional 79,323 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in LGN in the fourth quarter worth approximately $3,179,000. Finally, LBP AM SA purchased a new position in shares of LGN in the 4th quarter valued at $2,887,000.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of LGN from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada lifted their price target on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Zacks Research downgraded LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. The Goldman Sachs Group upped their price target on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, Glj Research initiated coverage on shares of LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.70.

LGN Stock Performance

LGN opened at $98.14 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.57 and a current ratio of 1.57. LGN has a one year low of $26.96 and a one year high of $102.64. The stock has a market capitalization of $10.60 billion and a P/E ratio of -9,814.00. The business’s fifty day moving average price is $65.00.

LGN (NASDAQ:LGN) last announced its quarterly earnings results on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.60). The business had revenue of $737.64 million for the quarter, compared to the consensus estimate of $616.05 million. The company’s revenue for the quarter was up 34.5% on a year-over-year basis. On average, analysts predict that LGN will post 1.31 EPS for the current fiscal 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.