Peregrine Capital Management LLC Decreases Position in LGN $LGN

Peregrine Capital Management LLC decreased its holdings in LGN (NASDAQ:LGN) by 9.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,282 shares of the company’s stock after selling 21,607 shares during the quarter. Peregrine Capital Management LLC’s holdings in LGN were worth $12,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LGN. Harbor Capital Advisors Inc. acquired a new position in LGN during the 4th quarter valued at about $1,220,000. Assetmark Inc. purchased a new stake in LGN in the fourth quarter valued at about $31,000. Freestone Capital Holdings LLC acquired a new stake in LGN in the fourth quarter worth about $1,153,000. Capelight Capital Asset Management LP purchased a new stake in shares of LGN during the fourth quarter worth about $4,089,000. Finally, LBP AM SA acquired a new position in shares of LGN during the fourth quarter valued at about $2,887,000.

Analysts Set New Price Targets

Several brokerages recently commented on LGN. The Goldman Sachs Group increased their price objective on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Glj Research began coverage on shares of LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 price target on the stock. Barclays raised their price target on shares of LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of LGN in a research note on Friday. Finally, Loop Capital began coverage on shares of LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price objective on the stock. 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.40.

LGN Stock Performance

Shares of LGN stock opened at $85.23 on Wednesday. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24. The firm has a market capitalization of $9.21 billion and a price-to-earnings ratio of 370.57. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $85.68.

LGN (NASDAQ:LGN) last released its 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 company 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. Sell-side analysts forecast that LGN will post 1.24 earnings per share for the current 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.