Mawer Investment Management Ltd. Invests $3.67 Million in LGN $LGN

Mawer Investment Management Ltd. bought a new stake in shares of LGN (NASDAQ:LGN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 85,338 shares of the company’s stock, valued at approximately $3,673,000.

Several other large investors have also recently made changes to their positions in the company. Assetmark Inc. acquired a new stake in LGN during the fourth quarter valued at $31,000. Clearstead Advisors LLC purchased a new position in LGN in the fourth quarter valued at $140,000. Comerica Bank purchased a new position in LGN in the fourth quarter valued at $192,000. DNB Asset Management AS purchased a new position in LGN in the fourth quarter valued at $215,000. Finally, Truist Financial Corp purchased a new position in LGN in the fourth quarter valued at $276,000.

LGN Price Performance

Shares of LGN stock opened at $86.55 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm has a market cap of $9.35 billion and a P/E ratio of 376.30. The stock’s 50 day simple moving average is $75.00. LGN has a 1-year low of $26.96 and a 1-year high of $107.24.

LGN (NASDAQ:LGN) last announced its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.04 billion during the quarter. The business’s revenue for the quarter was up 105.2% compared to the same quarter last year. Analysts anticipate that LGN will post 1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LGN. The Goldman Sachs Group lifted their price objective on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, April 16th. BTIG Research lifted their price objective on shares of LGN from $75.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Tigress Financial lifted their price objective on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Loop Capital began coverage on shares of LGN in a report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.40.

LGN Company 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.