LGN $LGN Shares Sold by Engle Capital Management L.P.

Engle Capital Management L.P. decreased its stake in shares of LGN (NASDAQ:LGN) by 8.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 510,700 shares of the company’s stock after selling 48,300 shares during the quarter. LGN comprises 9.8% of Engle Capital Management L.P.’s investment portfolio, making the stock its 2nd biggest position. Engle Capital Management L.P.’s holdings in LGN were worth $28,834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in LGN by 128.4% in the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock valued at $189,442,000 after acquiring an additional 2,474,220 shares during the period. Vanguard Group Inc. boosted its holdings in shares of LGN by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after acquiring an additional 1,415,282 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of LGN in the fourth quarter valued at approximately $69,438,000. Munro Partners grew its position in shares of LGN by 1,875.9% in the fourth quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after purchasing an additional 1,325,957 shares during the last quarter. Finally, CI Investments Inc. grew its position in shares of LGN by 2,209.7% in the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after purchasing an additional 754,157 shares during the last quarter.

LGN Stock Down 4.5%

Shares of NASDAQ:LGN opened at $67.63 on Tuesday. The stock’s 50 day simple moving average is $79.65. LGN has a 12-month low of $26.96 and a 12-month high of $107.24. The firm has a market cap of $7.31 billion and a price-to-earnings ratio of 294.04. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30.

LGN (NASDAQ:LGN) last announced its earnings results on Thursday, May 14th. The company reported $0.13 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 company’s quarterly revenue was up 105.2% compared to the same quarter last year. On average, research analysts expect that LGN will post 1.24 EPS for the current year.

Analyst Ratings Changes

LGN has been the subject of several research reports. Barclays lifted their price target on LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Glj Research initiated coverage on LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective on the stock. 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 on the stock. Stifel Nicolaus lifted their target price on LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of LGN in a research report on Friday, June 26th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, LGN presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.80.

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.