Janus Henderson Group PLC Decreases Position in LGN $LGN

Janus Henderson Group PLC lowered its stake in LGN (NASDAQ:LGN) by 1.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,341,989 shares of the company’s stock after selling 59,413 shares during the quarter. Janus Henderson Group PLC owned about 4.02% of LGN worth $245,156,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of LGN. Westfield Capital Management Co. LP acquired a new stake in LGN in the fourth quarter valued at approximately $69,438,000. Vanguard Group Inc. raised its stake in shares of LGN by 78.1% during 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 during the period. Munro Partners raised its stake in shares of LGN by 1,875.9% during the fourth quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after purchasing an additional 1,325,957 shares during the period. CI Investments Inc. lifted its position in shares of LGN by 2,209.7% during the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock worth $33,928,000 after purchasing an additional 754,157 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of LGN during the fourth quarter worth $30,343,000.

Analysts Set New Price Targets

LGN has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of LGN from $60.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Tigress Financial boosted their price objective on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Loop Capital assumed coverage on shares of LGN in a research report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price objective for the company. BMO Capital Markets raised their target price on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Royal Bank Of Canada dropped their target price on LGN from $106.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.80.

LGN Trading Up 12.7%

LGN stock opened at $59.81 on Friday. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. 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 has a market cap of $6.46 billion and a PE ratio of 260.04. The firm’s 50 day simple moving average is $78.20.

LGN (NASDAQ:LGN) last issued its quarterly earnings results 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 company had revenue of $1.04 billion for the quarter. The firm’s quarterly revenue was up 105.2% on a year-over-year basis. As a group, equities analysts predict 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.