Summit Creek Advisors LLC Acquires New Holdings in LGN $LGN

Summit Creek Advisors LLC acquired a new stake in shares of LGN (NASDAQ:LGN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 247,765 shares of the company’s stock, valued at approximately $10,664,000. Summit Creek Advisors LLC owned 0.24% of LGN as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its position in LGN by 666.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,631 shares of the company’s stock valued at $587,000 after purchasing an additional 11,852 shares during the period. ProShare Advisors LLC bought a new position in LGN during the fourth quarter valued at approximately $292,000. Hiddenite Capital Partners LP bought a new position in LGN during the fourth quarter valued at approximately $6,569,000. DNB Asset Management AS bought a new position in LGN during the fourth quarter valued at approximately $215,000. Finally, Truist Financial Corp bought a new position in LGN during the fourth quarter valued at approximately $276,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LGN shares. Zacks Research cut shares of LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Guggenheim upped their target price on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, March 26th. BTIG Research upped their target price on shares of LGN from $75.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Loop Capital started coverage on shares of LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price for the company. Finally, Glj Research started coverage on shares of LGN in a report on Tuesday, April 21st. They set a “buy” rating and a $99.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, LGN presently has an average rating of “Moderate Buy” and a consensus target price of $86.40.

LGN Price Performance

Shares of NASDAQ LGN opened at $82.46 on Thursday. The stock has a fifty day moving average price of $69.77. 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 stock has a market capitalization of $8.91 billion and a PE ratio of 358.52. LGN has a 1 year low of $26.96 and a 1 year high of $107.24.

LGN (NASDAQ:LGN) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion for the quarter. LGN’s 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.

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.