Healthcare of Ontario Pension Plan Trust Fund Sells 20,000 Shares of LGN $LGN

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its LGN stake by 20,000 shares, or 3%, leaving it with 655,000 shares valued at approximately $37.0 million.
• Several major institutional investors significantly increased their LGN holdings, including Janus Henderson, Vanguard, Munro Partners and CI Investments during the fourth quarter.
• LGN reported quarterly EPS of $0.13, below the $0.19 consensus estimate, while revenue surged 105.2% year over year to $1.04 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $96.80.

Healthcare of Ontario Pension Plan Trust Fund decreased its stake in LGN (NASDAQ:LGN - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 655,000 shares of the company's stock after selling 20,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.61% of LGN worth $36,981,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in LGN by 128.4% in the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company's stock valued at $189,442,000 after purchasing an additional 2,474,220 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of LGN during the 4th quarter worth about $69,438,000. Vanguard Group Inc. raised its position in shares of LGN by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company's stock valued at $138,919,000 after buying an additional 1,415,282 shares during the last quarter. Munro Partners raised its position in shares of LGN by 1,875.9% during the fourth quarter. Munro Partners now owns 1,396,642 shares of the company's stock valued at $60,111,000 after buying an additional 1,325,957 shares during the last quarter. Finally, CI Investments Inc. lifted its stake in shares of LGN by 2,209.7% in the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company's stock valued at $33,928,000 after buying an additional 754,157 shares during the period.

LGN Stock Performance

Shares of LGN stock opened at $70.80 on Monday. The firm has a market cap of $7.65 billion and a price-to-earnings ratio of 307.83. The company's 50-day simple moving average is $79.96. LGN has a twelve month low of $26.96 and a twelve month high of $107.24. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30.

LGN (NASDAQ:LGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.04 billion for the quarter. LGN's revenue for the quarter was up 105.2% compared to the same quarter last year. On average, equities analysts forecast that LGN will post 1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LGN has been the topic of several research reports. BMO Capital Markets boosted their price target on LGN from $63.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Royal Bank Of Canada reduced their price objective on LGN from $106.00 to $101.00 and set an "outperform" rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of LGN in a report on Friday, June 26th. BTIG Research boosted their price objective on LGN from $75.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Finally, Barclays upped their target price on LGN from $60.00 to $80.00 and gave the company an "equal weight" rating in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.80.

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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