Needham Investment Management LLC increased its position in shares of LGN (NASDAQ:LGN – Free Report) by 92.9% in the fourth quarter, HoldingsChannel reports. The firm owned 67,500 shares of the company’s stock after purchasing an additional 32,500 shares during the period. Needham Investment Management LLC’s holdings in LGN were worth $2,905,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Next Century Growth Investors LLC boosted its stake in LGN by 53.1% during the 4th quarter. Next Century Growth Investors LLC now owns 242,045 shares of the company’s stock worth $10,418,000 after acquiring an additional 83,996 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of LGN by 285.7% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 675,000 shares of the company’s stock valued at $29,052,000 after acquiring an additional 500,000 shares during the period. Barclays PLC boosted its position in shares of LGN by 180.6% in the fourth quarter. Barclays PLC now owns 59,933 shares of the company’s stock valued at $2,580,000 after acquiring an additional 38,573 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of LGN in the fourth quarter valued at about $91,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of LGN in the fourth quarter valued at about $494,000.
LGN Trading Up 0.8%
NASDAQ LGN opened at $86.73 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. The company has a fifty day simple moving average of $81.18. The firm has a market cap of $9.37 billion and a P/E ratio of 377.09. LGN has a 12-month low of $26.96 and a 12-month high of $107.24.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Glj Research assumed coverage on shares of LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective for the company. BMO Capital Markets raised their price objective on shares of LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. BTIG Research raised their price target on shares of LGN from $75.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Loop Capital started coverage on shares of LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.40.
Read Our Latest Stock Analysis on LGN
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.
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