Seven Grand Managers LLC Buys 200,000 Shares of LGN $LGN

Seven Grand Managers LLC raised its stake in shares of LGN (NASDAQ:LGN) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 600,000 shares of the company’s stock after acquiring an additional 200,000 shares during the quarter. LGN makes up about 2.0% of Seven Grand Managers LLC’s portfolio, making the stock its 13th biggest position. Seven Grand Managers LLC owned approximately 0.57% of LGN worth $25,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Assetmark Inc. bought a new stake in LGN during the 4th quarter valued at $31,000. Clearstead Advisors LLC bought a new stake in LGN during the 4th quarter valued at $140,000. Comerica Bank bought a new stake in LGN during the 4th quarter valued at $192,000. DNB Asset Management AS bought a new stake in LGN during the 4th quarter valued at $215,000. Finally, Truist Financial Corp bought a new stake in LGN during the 4th quarter valued at $276,000.

LGN Price Performance

LGN stock opened at $88.00 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $9.51 billion and a PE ratio of 382.61. LGN has a 1-year low of $26.96 and a 1-year high of $107.24. The stock has a fifty day simple moving average of $73.04.

LGN (NASDAQ:LGN) last posted its quarterly earnings data 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 firm had revenue of $1.04 billion during the quarter. LGN’s revenue for the quarter was up 105.2% compared to the same quarter last year. On average, equities research analysts anticipate that LGN will post 1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LGN. Zacks Research cut LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Loop Capital began coverage on LGN in a research report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price on the stock. Stifel Nicolaus increased their target price on LGN from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada increased their target price on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Finally, Tigress Financial increased their target price on LGN from $85.00 to $125.00 and gave the company 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 issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.40.

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.