Asset Management One Co. Ltd. Buys New Holdings in LGN $LGN

Key Points

• Asset Management One purchased a new stake of 83,935 shares of LGN in Q4 valued at about $3.68 million (0.08% ownership), and several other institutions (Mirae, LBP, Freestone, Harbor, Assetmark) also initiated positions.
• Analysts have been raising targets and issuing mostly positive ratings—MarketBeat shows a consensus rating of "Moderate Buy" with an average price target of $70.11, while recent targets range as high as $99.
• LGN reported Q1 EPS of ($0.55) which missed estimates, but revenue of $737.6M beat expectations and rose 34.5% year‑over‑year; the stock is trading near its 12‑month high (~$81) with a market cap of $8.76 billion.

Asset Management One Co. Ltd. bought a new stake in shares of LGN (NASDAQ:LGN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 83,935 shares of the company's stock, valued at approximately $3,681,000. Asset Management One Co. Ltd. owned 0.08% of LGN at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LGN. Assetmark Inc. purchased a new stake in LGN in the 4th quarter worth approximately $31,000. Freestone Capital Holdings LLC purchased a new stake in LGN in the 4th quarter worth approximately $1,153,000. Harbor Capital Advisors Inc. purchased a new stake in LGN in the 4th quarter worth approximately $1,220,000. LBP AM SA purchased a new stake in LGN in the 4th quarter worth approximately $2,887,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in LGN in the 4th quarter worth approximately $3,179,000.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LGN. Royal Bank Of Canada increased their target price on LGN from $48.00 to $64.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. BMO Capital Markets increased their target price on LGN from $46.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, March 30th. Tigress Financial increased their target price on LGN from $60.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Stifel Nicolaus increased their target price on LGN from $58.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, March 31st. Finally, Glj Research began coverage on LGN in a research report on Tuesday. They issued a "buy" rating and a $99.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned 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 currently has an average rating of "Moderate Buy" and a consensus price target of $70.11.

LGN Trading Up 2.3%

LGN stock opened at $81.12 on Friday. The company has a market cap of $8.76 billion and a price-to-earnings ratio of -8,112.00. The business has a fifty day simple moving average of $57.11. LGN has a 12 month low of $26.96 and a 12 month high of $81.81. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN - Get Free Report) last released its quarterly earnings results on Friday, March 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.60). The firm had revenue of $737.64 million during the quarter, compared to analysts' expectations of $616.05 million. The company's quarterly revenue was up 34.5% compared to the same quarter last year. On average, equities research analysts forecast that LGN will post 1.31 EPS for the current fiscal year.

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.

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