Swiss National Bank Purchases New Holdings in LGN $LGN

Swiss National Bank purchased a new position in shares of LGN (NASDAQ:LGN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 79,700 shares of the company’s stock, valued at approximately $4,500,000.

A number of other hedge funds have also recently added to or reduced their stakes in LGN. Assetmark Inc. acquired a new position in LGN in 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 grew its holdings in shares of LGN by 0.4% during the 4th quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock worth $17,288,000 after purchasing an additional 1,667 shares in the last quarter. Symmetry Investments LP increased its position in shares of LGN by 21.9% in the fourth quarter. Symmetry Investments LP now owns 9,750 shares of the company’s stock worth $420,000 after purchasing an additional 1,750 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of LGN in the fourth quarter worth $91,000.

LGN Stock Performance

Shares of LGN stock opened at $53.08 on Thursday. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24. The firm has a fifty day simple moving average of $78.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $5.73 billion and a P/E ratio of 230.78.

LGN (NASDAQ:LGN) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion during the quarter. The company’s revenue for the quarter was up 105.2% compared to the same quarter last year. On average, equities analysts predict that LGN will post 1.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on LGN. Loop Capital started coverage on LGN in a research note on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price target for the company. BTIG Research increased their price objective 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. The Goldman Sachs Group raised their target price on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Weiss Ratings restated a “sell (d-)” rating on shares of LGN in a research report on Friday, June 26th. Finally, Tigress Financial upped their price target on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, LGN currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.80.

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.