Seven Grand Managers LLC Raises Stock Holdings in LGN $LGN

Seven Grand Managers LLC increased its position in LGN (NASDAQ:LGN) by 50.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600,000 shares of the company’s stock after acquiring an additional 200,000 shares during the period. LGN makes up about 2.0% of Seven Grand Managers LLC’s portfolio, making the stock its 13th biggest holding. Seven Grand Managers LLC’s holdings in LGN were worth $25,824,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LGN. Harbor Capital Advisors Inc. purchased a new stake in LGN during the 4th quarter valued at about $1,220,000. Assetmark Inc. purchased a new stake in LGN during the 4th quarter valued at about $31,000. Freestone Capital Holdings LLC purchased a new stake in LGN during the 4th quarter valued at about $1,153,000. Capelight Capital Asset Management LP purchased a new stake in LGN during the 4th quarter valued at about $4,089,000. Finally, LBP AM SA purchased a new stake in LGN during the 4th quarter valued at about $2,887,000.

Wall Street Analyst Weigh In

Several analysts have weighed in on LGN shares. Zacks Research downgraded LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Tigress Financial boosted their price target on LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Guggenheim raised their target price on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Glj Research started coverage on shares of LGN in a report on Tuesday, April 21st. They set a “buy” rating and a $99.00 target price for the company. Finally, Loop Capital started coverage on shares of LGN in a report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price target on the stock. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.40.

LGN Stock Up 1.2%

Shares of LGN stock opened at $88.00 on Thursday. The firm has a market cap of $9.51 billion and a PE ratio of 382.61. The company has a 50-day moving average of $73.04. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. LGN has a 52-week low of $26.96 and a 52-week high of $107.24.

LGN (NASDAQ:LGN) last issued 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 firm had revenue of $1.04 billion during the quarter. The firm’s revenue for the quarter was up 105.2% compared to the same quarter last year. Sell-side analysts anticipate that LGN will post 1.24 earnings per share for the current fiscal year.

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.