First Trust Advisors LP Increases Stake in LGN $LGN

First Trust Advisors LP raised its stake in LGN (NASDAQ:LGN) by 383.4% in the first quarter, HoldingsChannel reports. The fund owned 146,358 shares of the company’s stock after purchasing an additional 116,079 shares during the period. First Trust Advisors LP’s holdings in LGN were worth $8,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of LGN. Assetmark Inc. purchased a new stake in LGN in the 4th quarter worth approximately $31,000. Aster Capital Management DIFC Ltd purchased a new position in shares of LGN during the 4th quarter valued at approximately $64,000. KBC Group NV purchased a new position in shares of LGN during the 1st quarter valued at approximately $66,000. Kestra Advisory Services LLC acquired a new position in shares of LGN in the 4th quarter valued at $91,000. Finally, Clearstead Advisors LLC acquired a new position in shares of LGN in the 4th quarter valued at $140,000.

LGN Price Performance

Shares of LGN stock opened at $63.93 on Friday. 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 firm has a market cap of $6.91 billion and a P/E ratio of 277.96. The stock’s 50 day simple moving average is $77.84. LGN has a 1-year low of $26.96 and a 1-year high of $107.24.

LGN (NASDAQ:LGN) last announced its 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 firm had revenue of $1.04 billion during the quarter. The business’s revenue was up 105.2% on a year-over-year basis. Analysts anticipate that LGN will post 1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LGN shares. Royal Bank Of Canada lowered their price target on shares of LGN from $106.00 to $101.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Loop Capital began coverage on shares of LGN in a report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of LGN in a research report on Friday, June 26th. BMO Capital Markets increased their target price 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. Finally, 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 target price on the stock. One equities research 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.80.

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.