Alberta Investment Management Corp Purchases 92,738 Shares of LGN $LGN

Alberta Investment Management Corp lifted its position in LGN (NASDAQ:LGN) by 30.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 392,738 shares of the company’s stock after purchasing an additional 92,738 shares during the quarter. Alberta Investment Management Corp owned about 0.37% of LGN worth $16,903,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LGN. Westfield Capital Management Co. LP bought a new position in shares of LGN in the fourth quarter worth $69,438,000. Vanguard Group Inc. increased its holdings in shares of LGN by 78.1% in the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after purchasing an additional 1,415,282 shares during the period. CI Investments Inc. increased its holdings in shares of LGN by 2,209.7% in 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 during the period. Norges Bank bought a new position in shares of LGN in the fourth quarter worth $30,343,000. Finally, State Street Corp bought a new position in shares of LGN in the fourth quarter worth $30,284,000.

Analyst Ratings Changes

LGN has been the topic of several research analyst reports. Guggenheim upped their price target on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Royal Bank Of Canada upped their price target on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Glj Research initiated coverage on shares of LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, BMO Capital Markets upped their price target on shares of LGN from $63.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.40.

LGN Stock Up 0.8%

LGN opened at $86.73 on Tuesday. The company has a market capitalization of $9.37 billion and a PE ratio of 377.09. 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 has a 52 week low of $26.96 and a 52 week high of $107.24. The company has a fifty day moving average price of $81.18.

LGN (NASDAQ:LGN) last released its earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $1.04 billion during the quarter. LGN’s quarterly revenue was up 105.2% compared to the same quarter last year. As a group, equities analysts anticipate that LGN will post 1.24 earnings per share for the current 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.