56,657 Shares in LGN $LGN Acquired by Element Capital Management LLC

Element Capital Management LLC purchased a new position in shares of LGN (NASDAQ:LGN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 56,657 shares of the company’s stock, valued at approximately $2,439,000. LGN accounts for about 1.2% of Element Capital Management LLC’s investment portfolio, making the stock its 22nd largest position.

Other hedge funds also recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in shares of LGN during the 4th quarter valued at $31,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of LGN during the 4th quarter worth $64,000. Clearbridge Investments LLC raised its position in shares of LGN by 0.4% in the 4th quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock worth $17,288,000 after buying an additional 1,667 shares during the period. Kestra Advisory Services LLC acquired a new position in LGN in the fourth quarter valued at $91,000. Finally, Clearstead Advisors LLC acquired a new position in LGN in the fourth quarter valued at $140,000.

LGN Price Performance

Shares of LGN stock opened at $85.11 on Thursday. LGN has a 1-year low of $26.96 and a 1-year high of $107.24. The firm has a market capitalization of $9.20 billion and a P/E ratio of 370.04. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm’s 50-day simple moving average is $82.32.

LGN (NASDAQ:LGN) last released 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 company had revenue of $1.04 billion during the quarter. The firm’s revenue for the quarter was up 105.2% on a year-over-year basis. On average, equities analysts expect that LGN will post 1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on LGN. Loop Capital began coverage on LGN in a research note on Wednesday, April 29th. They set a “buy” rating and a $96.00 price target for the company. Tigress Financial boosted their target price on LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Stifel Nicolaus raised their price target on shares of LGN from $58.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, The Goldman Sachs Group boosted their price objective on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. One investment 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 currently has an average rating of “Moderate Buy” and an average target price of $86.40.

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.