Peregrine Capital Management LLC Trims Stock Position in LGN $LGN

Peregrine Capital Management LLC lessened its stake in shares of LGN (NASDAQ:LGN) by 9.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 219,282 shares of the company’s stock after selling 21,607 shares during the period. Peregrine Capital Management LLC owned about 0.20% of LGN worth $12,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LGN. Freestone Capital Holdings LLC bought a new stake in LGN during the 4th quarter valued at $1,153,000. Pictet Asset Management Holding SA purchased a new position in shares of LGN during the fourth quarter valued at $1,722,000. Capelight Capital Asset Management LP purchased a new position in shares of LGN during the fourth quarter valued at $4,089,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of LGN in the fourth quarter valued at about $3,179,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of LGN in the fourth quarter valued at about $1,220,000.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Loop Capital started coverage on shares of LGN in a research report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price on the stock. Royal Bank Of Canada upped their price target on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, March 30th. Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Stifel Nicolaus lifted their price objective on shares of LGN from $58.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. Finally, Barclays boosted their price objective on shares of LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.40.

LGN Price Performance

LGN opened at $85.23 on Wednesday. The stock has a market capitalization of $9.21 billion and a price-to-earnings ratio of 370.57. 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 company has a 50-day moving average of $85.68. LGN has a 1 year low of $26.96 and a 1 year high of $107.24.

LGN (NASDAQ:LGN) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business had revenue of $1.04 billion for the quarter. The company’s revenue was up 105.2% compared to the same quarter last year. As a group, sell-side analysts expect that LGN will post 1.24 EPS 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.