CI Investments Inc. Sells 221,195 Shares of LGN $LGN

CI Investments Inc. decreased its stake in shares of LGN (NASDAQ:LGN) by 28.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 567,092 shares of the company’s stock after selling 221,195 shares during the quarter. CI Investments Inc.’s holdings in LGN were worth $32,018,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LGN. Assetmark Inc. acquired a new position in shares of LGN during the fourth quarter worth approximately $31,000. Aster Capital Management DIFC Ltd bought a new position in LGN during the fourth quarter valued at $64,000. KBC Group NV bought a new stake in LGN in the 1st quarter valued at about $66,000. Kestra Advisory Services LLC purchased a new stake in shares of LGN during the 4th quarter valued at approximately $91,000. Finally, Clearstead Advisors LLC bought a new position in shares of LGN in the fourth quarter worth $140,000.

LGN Stock Performance

Shares of NASDAQ:LGN opened at $72.87 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average is $80.52. The stock has a market capitalization of $7.87 billion and a price-to-earnings ratio of 316.83. LGN has a one year low of $26.96 and a one year high of $107.24.

LGN (NASDAQ:LGN) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (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 revenue was up 105.2% compared to the same quarter last year. Equities research analysts predict that LGN will post 1.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LGN has been the topic of several analyst reports. BTIG Research lifted their target price on shares of LGN from $75.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Guggenheim boosted their price objective on shares of LGN from $106.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Glj Research started coverage on shares of LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective for the company. BMO Capital Markets upped their price objective on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Finally, The Goldman Sachs Group lifted their price target on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, April 16th. 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 stock. According to MarketBeat.com, LGN has an average rating of “Moderate Buy” and a consensus price target of $96.80.

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.