ProShare Advisors LLC Acquires New Stake in LGN $LGN

ProShare Advisors LLC acquired a new stake in shares of LGN (NASDAQ:LGN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,773 shares of the company’s stock, valued at approximately $292,000.

Other hedge funds also recently bought and sold shares of the company. Freestone Capital Holdings LLC purchased a new stake in LGN during the fourth quarter valued at $1,153,000. Pictet Asset Management Holding SA purchased a new stake in LGN during the fourth quarter valued at $1,722,000. Harbor Capital Advisors Inc. purchased a new stake in LGN during the fourth quarter valued at $1,220,000. Asset Management One Co. Ltd. purchased a new stake in LGN during the fourth quarter valued at $3,681,000. Finally, Capelight Capital Asset Management LP purchased a new stake in LGN during the fourth quarter valued at $4,089,000.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. 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. BTIG Research upped their price objective on LGN from $75.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Barclays upped their price objective on LGN from $45.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. Guggenheim boosted their price target on LGN from $53.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Finally, Glj Research started coverage on LGN in a report on Tuesday, April 21st. They set a “buy” rating and a $99.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued 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 an average price target of $86.40.

LGN Price Performance

NASDAQ LGN opened at $83.74 on Monday. The company has a market capitalization of $9.05 billion and a price-to-earnings ratio of 364.09. 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 50-day simple moving average of $74.30. LGN has a twelve month low of $26.96 and a twelve month high of $107.24.

LGN (NASDAQ:LGN) last released 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% compared to the same quarter last year. Research analysts expect that LGN will post 1.24 EPS for the current fiscal year.

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.