Mariner Investment Group LLC Takes $430,000 Position in LGN $LGN

Mariner Investment Group LLC acquired a new stake in LGN (NASDAQ:LGN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the company’s stock, valued at approximately $430,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in LGN in the 4th quarter valued at about $1,220,000. Assetmark Inc. acquired a new stake in shares of LGN during the fourth quarter worth about $31,000. Freestone Capital Holdings LLC purchased a new position in shares of LGN in the fourth quarter valued at approximately $1,153,000. Capelight Capital Asset Management LP purchased a new position in shares of LGN in the fourth quarter valued at approximately $4,089,000. Finally, LBP AM SA acquired a new position in shares of LGN in the fourth quarter valued at approximately $2,887,000.

LGN Stock Up 0.5%

Shares of NASDAQ:LGN opened at $85.57 on Friday. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24. The company has a 50 day moving average price of $82.93. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $9.24 billion and a PE ratio of 372.04.

LGN (NASDAQ:LGN) last posted its quarterly 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 business had revenue of $1.04 billion for the quarter. The company’s revenue for the quarter was up 105.2% on a year-over-year basis. On average, equities analysts anticipate that LGN will post 1.24 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Loop Capital initiated coverage on shares of LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price on the stock. BTIG Research boosted their price target on shares of LGN from $75.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Stifel Nicolaus upped their price objective on LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Tigress Financial increased their price objective on LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada lifted their target price on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, LGN has an average rating of “Moderate Buy” and an average price target of $86.40.

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.