UBS Group AG Lowers Stock Position in LGN $LGN

UBS Group AG lessened its holdings in LGN (NASDAQ:LGN) by 31.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 85,038 shares of the company’s stock after selling 39,883 shares during the period. UBS Group AG owned about 0.08% of LGN worth $3,660,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. purchased a new stake in shares of LGN in the 4th quarter worth approximately $31,000. Freestone Capital Holdings LLC purchased a new stake in shares of LGN in the 4th quarter worth approximately $1,153,000. Harbor Capital Advisors Inc. bought a new position in shares of LGN during the 4th quarter worth approximately $1,220,000. LBP AM SA bought a new position in shares of LGN during the 4th quarter worth approximately $2,887,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of LGN during the 4th quarter worth approximately $3,179,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Loop Capital assumed coverage on shares of LGN in a research note on Wednesday, April 29th. They set a “buy” rating and a $96.00 price objective for the company. Tigress Financial boosted their price objective 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. Barclays boosted their price objective on shares of LGN from $45.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Glj Research assumed coverage on shares of LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective for the company. Finally, BMO Capital Markets boosted their price objective on shares of LGN from $63.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, LGN has a consensus rating of “Moderate Buy” and an average price target of $86.40.

LGN Trading Down 0.5%

Shares of LGN stock opened at $81.58 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30. LGN has a 12-month low of $26.96 and a 12-month high of $107.24. The firm has a market cap of $8.81 billion and a price-to-earnings ratio of 354.70. The company’s 50 day moving average is $70.98.

LGN (NASDAQ:LGN) last issued its quarterly earnings results 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 business had revenue of $1.04 billion for the quarter. The business’s revenue for the quarter was up 105.2% on a year-over-year basis. On average, sell-side analysts predict 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.