PNC Financial Services Group Inc. Has $1.35 Million Stock Position in LGN $LGN

PNC Financial Services Group Inc. lifted its holdings in shares of LGN (NASDAQ:LGN) by 75.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,874 shares of the company’s stock after acquiring an additional 10,243 shares during the period. PNC Financial Services Group Inc.’s holdings in LGN were worth $1,348,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LGN. Assetmark Inc. acquired a new position in LGN during the 4th quarter valued at about $31,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of LGN in the fourth quarter worth approximately $64,000. KBC Group NV purchased a new stake in shares of LGN in the first quarter worth approximately $66,000. Kestra Advisory Services LLC bought a new position in shares of LGN in the fourth quarter valued at approximately $91,000. Finally, Clearstead Advisors LLC bought a new position in shares of LGN in the fourth quarter valued at approximately $140,000.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LGN shares. Barclays upped 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 assumed coverage on shares of LGN in a report on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective on the stock. Tigress Financial upped their target price on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Guggenheim increased their target price on shares of LGN from $106.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Royal Bank Of Canada lowered their target price on shares of LGN from $106.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, July 22nd. One 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 issued a Sell rating to the company. Based on data from MarketBeat, LGN presently has an average rating of “Moderate Buy” and a consensus target price of $96.80.

LGN Stock Up 12.7%

LGN stock opened at $59.81 on Friday. The company’s 50 day moving average is $78.20. LGN has a twelve month low of $26.96 and a twelve month high of $107.24. The company has a market cap of $6.46 billion and a P/E ratio of 260.04. 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 issued its earnings results 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 during the quarter. LGN’s quarterly revenue was up 105.2% on a year-over-year basis. Equities analysts expect that LGN will post 1.24 EPS for the current fiscal year.

About LGN

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.