Royce & Associates LP Increases Stock Position in LGN $LGN

Royce & Associates LP raised its position in LGN (NASDAQ:LGN) by 955.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 337,875 shares of the company’s stock after buying an additional 305,865 shares during the period. Royce & Associates LP owned about 0.32% of LGN worth $14,542,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LGN. Vanguard Group Inc. increased its holdings in LGN by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after buying an additional 1,415,282 shares in the last quarter. Summit Creek Advisors LLC purchased a new position in LGN in the fourth quarter valued at $10,664,000. Hiddenite Capital Partners LP purchased a new position in LGN in the fourth quarter valued at $6,569,000. Capelight Capital Asset Management LP purchased a new position in LGN during the fourth quarter worth approximately $4,089,000. Finally, Asset Management One Co. Ltd. purchased a new position in LGN during the fourth quarter worth approximately $3,681,000.

LGN Price Performance

Shares of LGN opened at $86.96 on Wednesday. LGN has a 1-year low of $26.96 and a 1-year high of $107.24. The firm has a market capitalization of $9.40 billion and a PE ratio of 378.09. The company’s 50-day moving average is $72.32. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06.

LGN (NASDAQ:LGN) last announced its quarterly 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 business had revenue of $1.04 billion for the quarter. The business’s revenue for the quarter was up 105.2% on a year-over-year basis. As a group, sell-side analysts expect that LGN will post 1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LGN. Glj Research began coverage on LGN in a research report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective for the company. Barclays increased their price objective on shares of LGN from $45.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. The Goldman Sachs Group increased their target price 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. Guggenheim increased their target price 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. Finally, Tigress Financial raised their price objective on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. One 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.40.

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.