Element Capital Management LLC Makes New Investment in LGN $LGN

Element Capital Management LLC bought a new stake in LGN (NASDAQ:LGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 56,657 shares of the company’s stock, valued at approximately $2,439,000. LGN comprises approximately 1.2% of Element Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding. Element Capital Management LLC owned about 0.05% of LGN at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. purchased a new stake in shares of LGN in the 4th quarter worth about $31,000. Aster Capital Management DIFC Ltd purchased a new position in LGN during the 4th quarter valued at about $64,000. Kestra Advisory Services LLC purchased a new position in LGN during the 4th quarter valued at about $91,000. Clearstead Advisors LLC acquired a new position in LGN during the fourth quarter worth about $140,000. Finally, Comerica Bank acquired a new position in LGN during the fourth quarter worth about $192,000.

LGN Stock Performance

LGN stock opened at $85.11 on Thursday. The stock has a 50 day moving average price of $82.32. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market cap of $9.20 billion and a PE ratio of 370.04. LGN has a one year low of $26.96 and a one year high of $107.24.

LGN (NASDAQ:LGN) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) 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 company’s revenue for the quarter was up 105.2% on a year-over-year basis. Research analysts forecast that LGN will post 1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LGN has been the topic of several research reports. Tigress Financial increased their price target on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. BMO Capital Markets increased their target price on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Guggenheim raised their price target on LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. BTIG Research boosted their price target on LGN from $75.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Royal Bank Of Canada upped their price objective on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.40.

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.