Conestoga Capital Advisors LLC Takes $23.48 Million Position in LGN $LGN

Conestoga Capital Advisors LLC bought a new position in shares of LGN (NASDAQ:LGN) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 415,860 shares of the company’s stock, valued at approximately $23,479,000. Conestoga Capital Advisors LLC owned about 0.38% of LGN as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Freestone Capital Holdings LLC bought a new position in LGN in the 4th quarter valued at about $1,153,000. Pictet Asset Management Holding SA acquired a new stake in LGN during the fourth quarter worth approximately $1,722,000. Capelight Capital Asset Management LP bought a new stake in shares of LGN during the fourth quarter worth approximately $4,089,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of LGN during the fourth quarter worth approximately $3,179,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of LGN in the fourth quarter valued at approximately $1,220,000.

LGN Trading Down 6.1%

NASDAQ LGN opened at $80.00 on Thursday. 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 company has a 50 day simple moving average of $85.76. The firm has a market capitalization of $8.64 billion and a P/E ratio of 347.83.

LGN (NASDAQ:LGN) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share (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 business’s revenue for the quarter was up 105.2% compared to the same quarter last year. On average, equities research analysts forecast that LGN will post 1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research cut LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Barclays upped their price objective on LGN from $60.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Guggenheim increased their price objective on LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Royal Bank Of Canada lifted their target price on LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. Finally, Loop Capital assumed coverage on shares of LGN in a research report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, LGN has an average rating of “Moderate Buy” and a consensus target price of $88.40.

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.