Thrivent Financial for Lutherans trimmed its stake in LGN (NASDAQ:LGN – Free Report) by 25.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,685 shares of the company’s stock after selling 27,197 shares during the quarter. Thrivent Financial for Lutherans’ holdings in LGN were worth $3,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently added to or reduced their stakes in LGN. Harbor Capital Advisors Inc. acquired a new position in LGN in the fourth quarter worth approximately $1,220,000. Assetmark Inc. acquired a new position in LGN in the fourth quarter worth approximately $31,000. Freestone Capital Holdings LLC acquired a new position in LGN in the fourth quarter worth approximately $1,153,000. Capelight Capital Asset Management LP acquired a new position in LGN in the fourth quarter worth approximately $4,089,000. Finally, LBP AM SA acquired a new position in LGN in the fourth quarter worth approximately $2,887,000.
Analyst Ratings Changes
LGN has been the topic of a number of research reports. BMO Capital Markets increased their price objective on LGN from $63.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Loop Capital initiated coverage on LGN in a report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price objective on the stock. Royal Bank Of Canada increased their price objective on LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. The Goldman Sachs Group increased their price objective on LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Zacks Research downgraded LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. 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. According to MarketBeat.com, LGN has a consensus rating of “Moderate Buy” and an average target price of $86.40.
LGN Stock Down 0.5%
NASDAQ:LGN opened at $81.58 on Friday. LGN has a 12 month low of $26.96 and a 12 month high of $107.24. The company has a market capitalization of $8.81 billion and a price-to-earnings ratio of 354.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30. The company has a 50 day moving average price of $70.98.
LGN (NASDAQ:LGN – Get Free Report) last released its quarterly 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 firm had revenue of $1.04 billion for the quarter. LGN’s quarterly revenue was up 105.2% compared to the same quarter last year. Research analysts predict 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.
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