Hel Ved Capital Management Ltd Invests $11.01 Million in LGN $LGN

Hel Ved Capital Management Ltd bought a new position in shares of LGN (NASDAQ:LGN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 255,750 shares of the company’s stock, valued at approximately $11,007,000. LGN accounts for about 3.0% of Hel Ved Capital Management Ltd’s holdings, making the stock its 9th largest holding. Hel Ved Capital Management Ltd owned approximately 0.24% of LGN at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Assetmark Inc. acquired a new stake in shares of LGN during the fourth quarter worth about $31,000. Clearbridge Investments LLC boosted its stake in shares of LGN by 0.4% during the fourth quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock worth $17,288,000 after buying an additional 1,667 shares during the period. Clearstead Advisors LLC acquired a new stake in shares of LGN during the fourth quarter worth about $140,000. Comerica Bank acquired a new stake in shares of LGN during the fourth quarter worth about $192,000. Finally, LPL Financial LLC boosted its stake in shares of LGN by 37.0% during the fourth quarter. LPL Financial LLC now owns 18,003 shares of the company’s stock worth $775,000 after buying an additional 4,861 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LGN shares. Stifel Nicolaus increased their target price on shares of LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Loop Capital initiated coverage on shares of LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price target for the company. Guggenheim increased their price target on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. BTIG Research increased their price target on shares of LGN from $75.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Barclays increased their price target on shares of LGN from $45.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 19th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.40.

LGN Price Performance

Shares of LGN opened at $86.00 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. The stock’s 50 day simple moving average is $80.62. LGN has a 1-year low of $26.96 and a 1-year high of $107.24. The stock has a market cap of $9.29 billion and a PE ratio of 373.91.

LGN (NASDAQ:LGN) last issued 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 for the quarter. The business’s revenue was up 105.2% compared to the same quarter last year. On average, equities analysts expect that LGN will post 1.24 earnings per share for the current fiscal 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.