LGN $LGN Stock Position Raised by Alberta Investment Management Corp

Alberta Investment Management Corp increased its position in LGN (NASDAQ:LGN) by 30.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 392,738 shares of the company’s stock after buying an additional 92,738 shares during the period. Alberta Investment Management Corp’s holdings in LGN were worth $16,903,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LGN. Assetmark Inc. acquired a new position in shares of LGN during the 4th quarter valued at about $31,000. Aster Capital Management DIFC Ltd bought a new stake in LGN during the fourth quarter worth approximately $64,000. Kestra Advisory Services LLC acquired a new position in LGN during the fourth quarter valued at approximately $91,000. Clearstead Advisors LLC acquired a new position in LGN during the fourth quarter valued at approximately $140,000. Finally, Comerica Bank bought a new position in shares of LGN in the fourth quarter valued at approximately $192,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LGN shares. BMO Capital Markets upped their price objective on shares of LGN from $63.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. The Goldman Sachs Group boosted their target price on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Stifel Nicolaus upped their price target 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, Tigress Financial raised their price target on LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. One equities 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.40.

LGN Trading Up 0.5%

Shares of LGN stock opened at $85.57 on Friday. The company has a market capitalization of $9.24 billion and a price-to-earnings ratio of 372.04. LGN has a 1 year low of $26.96 and a 1 year high of $107.24. The business’s fifty day moving average is $82.93. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30.

LGN (NASDAQ:LGN) last released its earnings results 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 company had revenue of $1.04 billion during the quarter. The business’s revenue for the quarter was up 105.2% compared to the same quarter last year. Equities research analysts anticipate that LGN will post 1.24 EPS for the current fiscal year.

LGN 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.