LGN $LGN Shares Acquired by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its LGN position by 662.4% in the first quarter, purchasing 19,858 additional shares for a total holding of 22,856 shares valued at $1.29 million.
• Several major institutions also expanded their LGN stakes, including Janus Henderson, Vanguard, Munro Partners, and CI Investments, signaling increased institutional interest.
• LGN reported quarterly revenue of $1.26 billion but missed earnings expectations, posting a loss of $0.37 per share versus the $0.26 consensus estimate. Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and a $99.50 target price.

Royal Bank of Canada increased its position in shares of LGN (NASDAQ:LGN - Free Report) by 662.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,856 shares of the company's stock after purchasing an additional 19,858 shares during the period. Royal Bank of Canada's holdings in LGN were worth $1,290,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LGN. Janus Henderson Group PLC increased its position in LGN by 128.4% during the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company's stock worth $189,442,000 after purchasing an additional 2,474,220 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of LGN in the 4th quarter valued at approximately $69,438,000. Vanguard Group Inc. boosted its stake in shares of LGN by 78.1% in 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 in the last quarter. Munro Partners boosted its stake in shares of LGN by 1,875.9% in 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 in the last quarter. Finally, CI Investments Inc. grew its holdings in LGN by 2,209.7% during the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company's stock worth $33,928,000 after acquiring an additional 754,157 shares during the period.

LGN Price Performance

LGN stock opened at $60.08 on Friday. The firm has a market capitalization of $6.49 billion and a PE ratio of 150.20. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. The firm's 50-day simple moving average is $72.17 and its 200 day simple moving average is $68.92. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share 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 business had revenue of $1.26 billion for the quarter.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LGN. Roth Capital reiterated a "buy" rating and issued a $120.00 price objective on shares of LGN in a research report on Wednesday, August 12th. Guggenheim reaffirmed a "buy" rating and set a $115.00 price target on shares of LGN in a research note on Tuesday. Royal Bank Of Canada cut their price target on shares of LGN from $106.00 to $101.00 and set an "outperform" rating for the company in a report on Wednesday, July 22nd. Bank of America raised 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. Finally, Zacks Research raised shares of LGN from a "hold" rating to a "strong-buy" rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $99.50.

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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