Allianz Asset Management GmbH Makes New $1.57 Million Investment in LGN $LGN

Allianz Asset Management GmbH acquired a new stake in shares of LGN (NASDAQ:LGN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,401 shares of the company's stock, valued at approximately $1,568,000.

Several other institutional investors have also modified their holdings of LGN. KBC Group NV purchased a new position in LGN in the 1st quarter valued at $66,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of LGN in the fourth quarter valued at about $64,000. Nykredit A S purchased a new position in shares of LGN in the second quarter worth about $128,000. Clearbridge Investments LLC lifted its stake in shares of LGN by 0.4% in the fourth quarter. Clearbridge Investments LLC now owns 401,667 shares of the company's stock worth $17,288,000 after buying an additional 1,667 shares in the last quarter. Finally, Symmetry Investments LP lifted its stake in shares of LGN by 21.9% in the fourth quarter. Symmetry Investments LP now owns 9,750 shares of the company's stock worth $420,000 after buying an additional 1,750 shares in the last quarter.

LGN Price Performance

LGN stock opened at $55.22 on Thursday. LGN has a 52-week low of $26.96 and a 52-week high of $107.24. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03. The stock has a market cap of $5.97 billion and a price-to-earnings ratio of 138.05. The business has a fifty day moving average of $64.14 and a two-hundred day moving average of $69.55.

LGN (NASDAQ:LGN - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.63). LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. The company had revenue of $1.26 billion during the quarter. As a group, research analysts anticipate that LGN will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LGN. Bank of America upped their price objective on shares of LGN from $105.00 to $116.00 and gave the company a "buy" rating in a research note on Friday, August 14th. Weiss Ratings cut LGN from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 31st. BTIG Research restated a "buy" rating and issued a $100.00 price target (down from $120.00) on shares of LGN in a research report on Friday, August 14th. Guggenheim reaffirmed a "buy" rating and issued a $115.00 price target on shares of LGN in a report on Tuesday, August 18th. Finally, Tigress Financial lifted their price objective on LGN from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $99.50.

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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