Alberta Investment Management Corp Purchases 92,738 Shares of LGN $LGN

Alberta Investment Management Corp raised its holdings in shares of LGN (NASDAQ:LGN) by 30.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 392,738 shares of the company’s stock after acquiring an additional 92,738 shares during the period. Alberta Investment Management Corp’s holdings in LGN were worth $16,903,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Assetmark Inc. purchased a new stake in LGN during the fourth quarter valued at about $31,000. Clearbridge Investments LLC boosted its position in LGN by 0.4% during the fourth quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock valued at $17,288,000 after buying an additional 1,667 shares during the period. Kestra Advisory Services LLC purchased a new stake in LGN during the fourth quarter valued at about $91,000. Clearstead Advisors LLC purchased a new stake in LGN during the fourth quarter valued at about $140,000. Finally, Comerica Bank purchased a new stake in LGN during the fourth quarter valued at about $192,000.

LGN Trading Up 0.8%

LGN stock opened at $86.73 on Tuesday. 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 business’s 50-day moving average price is $81.18. The stock has a market capitalization of $9.37 billion and a price-to-earnings ratio of 377.09. LGN has a 1-year low of $26.96 and a 1-year high of $107.24.

LGN (NASDAQ:LGN) last posted its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion for the quarter. The business’s revenue was up 105.2% on a year-over-year basis. Research analysts forecast that LGN will post 1.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LGN has been the subject of several analyst reports. Zacks Research lowered shares of LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Stifel Nicolaus upped their price target on shares of LGN from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Guggenheim upped their price target on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Royal Bank Of Canada upped their price target on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, Loop Capital initiated coverage on shares of LGN in a research report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price target for the company. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.40.

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.