Rockefeller Capital Management L.P. Purchases New Position in LGN $LGN

Rockefeller Capital Management L.P. acquired a new position in LGN (NASDAQ:LGN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 59,462 shares of the company’s stock, valued at approximately $2,559,000. Rockefeller Capital Management L.P. owned about 0.06% of LGN as of its most recent SEC filing.

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

LGN Price Performance

LGN stock opened at $80.60 on Tuesday. 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 1 year low of $26.96 and a 1 year high of $107.24. The stock has a market cap of $8.71 billion and a P/E ratio of 350.43. The business has a fifty day moving average price of $85.45.

LGN (NASDAQ:LGN) last posted its quarterly earnings data 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. The company’s revenue was up 105.2% on a year-over-year basis. As a group, analysts expect that LGN will post 1.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Guggenheim lifted their price objective on LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. The Goldman Sachs Group upped their target price on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Royal Bank Of Canada lifted their price target on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, March 30th. Stifel Nicolaus boosted their price objective 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, Barclays boosted their price objective 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, LGN has a consensus rating of “Moderate Buy” and a consensus price target of $88.40.

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.