Munro Partners Acquires 1,325,957 Shares of LGN $LGN

Munro Partners lifted its holdings in LGN (NASDAQ:LGN) by 1,875.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,396,642 shares of the company’s stock after purchasing an additional 1,325,957 shares during the period. LGN accounts for approximately 1.6% of Munro Partners’ portfolio, making the stock its 24th biggest holding. Munro Partners’ holdings in LGN were worth $60,111,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of LGN by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after purchasing an additional 1,415,282 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of LGN in the fourth quarter worth about $69,438,000. CI Investments Inc. increased its stake in shares of LGN by 2,209.7% in the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock worth $33,928,000 after purchasing an additional 754,157 shares during the period. Norges Bank bought a new position in LGN during the fourth quarter valued at about $30,343,000. Finally, State Street Corp bought a new position in LGN during the fourth quarter valued at about $30,284,000.

LGN Stock Performance

NASDAQ:LGN opened at $86.73 on Tuesday. The stock’s fifty day moving average price is $81.18. LGN has a 52-week low of $26.96 and a 52-week high of $107.24. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $9.37 billion and a P/E ratio of 377.09.

LGN (NASDAQ:LGN) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business 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. On average, equities analysts predict that LGN will post 1.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Guggenheim boosted their price target on LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Zacks Research lowered LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Barclays boosted their price target on LGN from $45.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. BMO Capital Markets boosted their price target on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Stifel Nicolaus boosted their price target on LGN from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.