Assetmark Inc. Raises Position in LGN $LGN

Assetmark Inc. lifted its position in shares of LGN (NASDAQ:LGN) by 1,923.3% during the first quarter, HoldingsChannel reports. The fund owned 14,568 shares of the company’s stock after acquiring an additional 13,848 shares during the quarter. Assetmark Inc.’s holdings in LGN were worth $823,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of LGN by 65.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 176,251 shares of the company’s stock valued at $9,951,000 after buying an additional 69,914 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in LGN in the first quarter worth $228,000. Fifth Third Bancorp acquired a new stake in LGN in the first quarter valued at $2,282,000. Conestoga Capital Advisors LLC acquired a new stake in LGN in the first quarter valued at $23,479,000. Finally, Pictet Asset Management Holding SA lifted its stake in shares of LGN by 349.6% in the first quarter. Pictet Asset Management Holding SA now owns 179,842 shares of the company’s stock valued at $10,154,000 after purchasing an additional 139,842 shares during the period.

LGN Price Performance

LGN opened at $70.80 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06. The stock has a market cap of $7.65 billion and a PE ratio of 307.83. The company has a 50-day simple moving average of $79.96. LGN has a 12 month low of $26.96 and a 12 month high of $107.24.

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 firm had revenue of $1.04 billion for the quarter. The company’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 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of LGN in a research report on Friday, June 26th. Tigress Financial boosted their price objective on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Glj Research assumed coverage on shares of LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective on the stock. Guggenheim raised their target price on shares of LGN from $106.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Barclays lifted their target price on shares of LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $96.80.

About LGN

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.