Westfield Capital Management Co. LP Makes New Investment in LGN $LGN

Westfield Capital Management Co. LP purchased a new position in LGN (NASDAQ:LGN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,613,326 shares of the company’s stock, valued at approximately $69,438,000.

Several other hedge funds have also bought and sold shares of LGN. Harbor Capital Advisors Inc. purchased a new stake in LGN in the 4th quarter worth $1,220,000. Assetmark Inc. purchased a new stake in LGN in the 4th quarter worth $31,000. Freestone Capital Holdings LLC purchased a new stake in LGN in the 4th quarter worth $1,153,000. Capelight Capital Asset Management LP purchased a new stake in LGN in the 4th quarter worth $4,089,000. Finally, LBP AM SA purchased a new stake in LGN in the 4th quarter worth $2,887,000.

Analyst Ratings Changes

Several brokerages have commented on LGN. Guggenheim boosted their price target on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Glj Research assumed coverage on shares of LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Stifel Nicolaus boosted their target price on shares of LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. Finally, Loop Capital assumed coverage on shares of LGN in a report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, LGN currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.40.

LGN Trading Down 5.9%

Shares of NASDAQ:LGN opened at $83.69 on Friday. The company has a market cap of $9.04 billion and a P/E ratio of 363.87. LGN has a 12 month low of $26.96 and a 12 month high of $107.24. The firm’s 50-day moving average price is $77.73. 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 (NASDAQ:LGN) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.04 billion for the quarter. The company’s quarterly revenue was up 105.2% on a year-over-year basis. As a group, equities analysts forecast 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.