Capelight Capital Asset Management LP Invests $4.09 Million in LGN $LGN

Key Points

• Capelight Capital acquired 95,000 shares of LGN in the fourth quarter — a new position valued at about $4.09 million, representing ~3.3% of Capelight’s portfolio and roughly 0.09% ownership of LGN (its 8th-largest holding).
• LGN missed on EPS (reported ($0.55) vs. $0.05 expected) but beat revenue expectations with $737.6 million, up 34.5% year-over-year; the stock trades near its 52-week high and carries a market cap of about $7.14 billion.
• Analysts show a mixed but generally positive view: consensus is a "Moderate Buy" with an average target of $62.25, while firms like Goldman Sachs and Stifel raised targets and others (Weiss, Zacks) issued more cautious ratings.

Capelight Capital Asset Management LP acquired a new position in LGN (NASDAQ:LGN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 95,000 shares of the company's stock, valued at approximately $4,089,000. LGN makes up about 3.3% of Capelight Capital Asset Management LP's investment portfolio, making the stock its 8th biggest position. Capelight Capital Asset Management LP owned about 0.09% of LGN as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LGN. Assetmark Inc. acquired a new stake in shares of LGN in the 4th quarter worth $31,000. Freestone Capital Holdings LLC purchased a new position in LGN in the 4th quarter worth $1,153,000. Finally, Harbor Capital Advisors Inc. purchased a new position in LGN in the 4th quarter worth $1,220,000.

LGN Stock Performance

NASDAQ LGN opened at $66.06 on Wednesday. The company's 50-day moving average is $53.52. The stock has a market cap of $7.14 billion and a price-to-earnings ratio of -6,606.00. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $67.10. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.57 and a quick ratio of 1.57.

LGN (NASDAQ:LGN - Get Free Report) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.60). The business had revenue of $737.64 million during the quarter, compared to analyst estimates of $616.05 million. The firm's revenue for the quarter was up 34.5% on a year-over-year basis.

Analyst Ratings Changes

LGN has been the subject of a number of research analyst reports. Weiss Ratings initiated coverage on LGN in a research note on Wednesday, January 14th. They issued a "sell (d+)" rating for the company. Zacks Research lowered LGN from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Barclays raised their target price on LGN from $37.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Friday, January 23rd. The Goldman Sachs Group raised their target price on LGN from $52.00 to $63.00 and gave the stock a "buy" rating in a research note on Monday, March 30th. Finally, Stifel Nicolaus raised their target price on LGN from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, March 31st. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $62.25.

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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