Next Century Growth Investors LLC Buys 83,996 Shares of LGN $LGN

Next Century Growth Investors LLC boosted its holdings in LGN (NASDAQ:LGN) by 53.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,045 shares of the company’s stock after purchasing an additional 83,996 shares during the period. Next Century Growth Investors LLC’s holdings in LGN were worth $10,418,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on LGN. 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 report on Friday, May 15th. Glj Research began coverage on shares of LGN in a research report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 target price for the company. Royal Bank Of Canada raised their target price on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. 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 report on Thursday, April 16th. Finally, Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently 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 50-day moving average price of $80.62. LGN has a one year low of $26.96 and a one year high of $107.24. The company has a market cap of $9.29 billion and a P/E ratio of 373.91. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06.

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

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.