Value Aligned Research Advisors LLC Acquires 56,460 Shares of LGN $LGN

Value Aligned Research Advisors LLC lifted its stake in shares of LGN (NASDAQ:LGN) by 22.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 308,141 shares of the company’s stock after buying an additional 56,460 shares during the period. Value Aligned Research Advisors LLC’s holdings in LGN were worth $17,398,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of LGN during the 4th quarter valued at $1,220,000. Assetmark Inc. bought a new position in LGN during the fourth quarter worth $31,000. Freestone Capital Holdings LLC acquired a new stake in LGN in the fourth quarter worth $1,153,000. Capelight Capital Asset Management LP acquired a new stake in LGN in the fourth quarter worth $4,089,000. Finally, LBP AM SA bought a new stake in LGN in the fourth quarter valued at $2,887,000.

LGN Trading Down 12.5%

NASDAQ LGN opened at $59.21 on Wednesday. The company has a fifty day simple moving average of $79.23. LGN has a 12-month low of $26.96 and a 12-month high of $107.24. 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 $6.40 billion and a P/E ratio of 257.43.

LGN (NASDAQ:LGN) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS 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 quarterly revenue was up 105.2% on a year-over-year basis. Sell-side analysts predict that LGN will post 1.24 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LGN shares. Guggenheim upped their price objective on shares of LGN from $106.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 10th. Stifel Nicolaus raised their target price on LGN from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. The Goldman Sachs Group raised their target price on LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Royal Bank Of Canada decreased their target price on LGN from $106.00 to $101.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Finally, Loop Capital assumed coverage on LGN in a research note on Wednesday, April 29th. They set a “buy” rating and a $96.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, LGN currently has an average rating of “Moderate Buy” and an average target price of $96.80.

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.