PNC Financial Services Group Inc. Increases Holdings in LGN $LGN

PNC Financial Services Group Inc. lifted its position in shares of LGN (NASDAQ:LGN) by 666.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,631 shares of the company’s stock after buying an additional 11,852 shares during the period. PNC Financial Services Group Inc.’s holdings in LGN were worth $587,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of LGN by 78.1% during the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after buying an additional 1,415,282 shares in the last quarter. Hiddenite Capital Partners LP bought a new position in LGN during the 4th quarter worth approximately $6,569,000. Capelight Capital Asset Management LP bought a new position in LGN during the 4th quarter worth approximately $4,089,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in LGN by 1,073.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock worth $3,732,000 after acquiring an additional 79,323 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in LGN during the 4th quarter worth approximately $3,681,000.

LGN Stock Performance

Shares of LGN stock opened at $83.74 on Monday. The company has a market cap of $9.05 billion and a price-to-earnings ratio of 364.09. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24. The stock has a 50 day simple moving average of $74.30. 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 issued its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion during the quarter. LGN’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 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on LGN. The Goldman Sachs Group raised their price target on LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Zacks Research lowered LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Tigress Financial raised their price target on LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. 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. Finally, Barclays raised their price target on LGN from $45.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, LGN presently has an average rating of “Moderate Buy” and an average price target of $86.40.

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.