Royal Bank of Canada Raises Stake in LGN $LGN

Royal Bank of Canada grew its holdings in shares of LGN (NASDAQ:LGN) by 662.4% during the first quarter, HoldingsChannel reports. The firm owned 22,856 shares of the company’s stock after purchasing an additional 19,858 shares during the quarter. Royal Bank of Canada’s holdings in LGN were worth $1,290,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LGN. Assetmark Inc. purchased a new position in LGN in the fourth quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. bought a new position in LGN during the fourth quarter worth $3,179,000. Asset Management One Co. Ltd. bought a new position in LGN in the fourth quarter worth about $3,681,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in LGN by 1,073.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock valued at $3,732,000 after purchasing an additional 79,323 shares during the period. Finally, 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 valued at $138,919,000 after acquiring an additional 1,415,282 shares during the period.

LGN Price Performance

NASDAQ LGN opened at $60.08 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $6.49 billion and a PE ratio of 150.20. LGN has a 12-month low of $26.96 and a 12-month high of $107.24. The company has a 50 day moving average price of $72.17 and a two-hundred day moving average price of $68.92.

LGN (NASDAQ:LGN) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.63). The business had revenue of $1.26 billion for the quarter. LGN had a positive return on equity of 4.33% and a negative net margin of 1.20%.

Analysts Set New Price Targets

LGN has been the subject of several analyst reports. BTIG Research reiterated a “buy” rating and set a $100.00 price objective (down from $120.00) on shares of LGN in a research report on Friday, August 14th. Zacks Research raised shares of LGN from a “hold” rating to a “strong-buy” rating in a research note on Monday. BMO Capital Markets lifted their target price on LGN from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Weiss Ratings upgraded shares of LGN from a “sell (d-)” rating to a “sell (d+)” rating in a report on Friday, August 14th. Finally, Guggenheim reissued a “buy” rating and set a $115.00 price target on shares of LGN in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, LGN currently has an average rating of “Moderate Buy” and a consensus target price of $99.50.

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.