Freestone Capital Holdings LLC Makes New Investment in LGN $LGN

Key Points

• Hedge funds increased exposure to LGN in Q4: Freestone Capital disclosed a new 26,785-share stake worth about $1.15M and Harbor Capital Advisors also opened a new position valued at roughly $1.22M according to 13F filings.
• Multiple firms raised price targets (including Guggenheim, BMO, Goldman Sachs, RBC and Stifel), leaving LGN with a consensus rating of “Moderate Buy” and an average target price of $62.25.
• LGN missed on EPS (reported a $(0.55) loss vs. $0.05 expected) but posted a revenue beat of $737.6M versus $616.1M, with revenue up 34.5% year‑over‑year.

Freestone Capital Holdings LLC acquired a new position in LGN (NASDAQ:LGN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 26,785 shares of the company's stock, valued at approximately $1,153,000.

Separately, Harbor Capital Advisors Inc. purchased a new position in shares of LGN during the fourth quarter valued at approximately $1,220,000.

Analyst Ratings Changes

LGN has been the subject of several recent research reports. Stifel Nicolaus lifted their target price on shares of LGN from $58.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, March 31st. Guggenheim lifted their target price on shares of LGN from $53.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, March 26th. BMO Capital Markets lifted their target price on shares of LGN from $46.00 to $63.00 and gave the company an "outperform" rating in a report on Monday, March 30th. The Goldman Sachs Group lifted their target price on shares of LGN from $52.00 to $63.00 and gave the company a "buy" rating in a report on Monday, March 30th. Finally, Royal Bank Of Canada lifted their target price on shares of LGN from $48.00 to $64.00 and gave the company an "outperform" rating in a report on Monday, March 30th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.25.

LGN Stock Up 1.0%

Shares of LGN opened at $66.06 on Wednesday. The company has a market capitalization of $7.14 billion and a P/E ratio of -6,606.00. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.03. The firm's 50 day moving average price is $53.52. LGN has a twelve month low of $26.96 and a twelve month high of $67.10.

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

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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