Westfield Capital Management Co. LP Makes New $69.44 Million Investment in LGN $LGN

Westfield Capital Management Co. LP acquired a new position in LGN (NASDAQ:LGN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,613,326 shares of the company’s stock, valued at approximately $69,438,000. Westfield Capital Management Co. LP owned 1.53% of LGN at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. purchased a new stake in LGN in the fourth quarter worth about $31,000. Clearstead Advisors LLC purchased a new stake in LGN in the fourth quarter worth about $140,000. Comerica Bank purchased a new stake in LGN in the fourth quarter worth about $192,000. DNB Asset Management AS purchased a new stake in LGN in the fourth quarter worth about $215,000. Finally, Truist Financial Corp purchased a new stake in LGN in the fourth quarter worth about $276,000.

Analyst Ratings Changes

Several analysts have commented on LGN shares. Zacks Research lowered shares of LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. The Goldman Sachs Group raised their target price on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. BMO Capital Markets raised their target price on shares of LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Barclays raised their target price on shares of LGN from $45.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. Finally, Glj Research initiated coverage on shares of LGN in a research report on Tuesday, April 21st. They set a “buy” rating and a $99.00 price target for the company. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.40.

LGN Trading Down 5.9%

NASDAQ:LGN opened at $83.69 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30. LGN has a 12 month low of $26.96 and a 12 month high of $107.24. The company has a market cap of $9.04 billion and a P/E ratio of 363.87. The stock has a 50 day moving average of $77.73.

LGN (NASDAQ:LGN) last posted its 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. LGN’s quarterly revenue was up 105.2% compared to the same quarter last year. Research analysts forecast that LGN will post 1.24 earnings per share for the current year.

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.