LGN $LGN Shares Bought by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its LGN stake by 383.4% in the first quarter, purchasing 116,079 additional shares and bringing its holdings to 146,358 shares valued at approximately $8.26 million.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $96.80; several firms recently raised their targets to between $100 and $125.
• LGN reported quarterly revenue of $1.04 billion, up 105.2% year over year, but its $0.13 EPS missed expectations of $0.19. The stock opened at $63.93, versus a 52-week range of $26.96 to $107.24.

First Trust Advisors LP boosted its stake in shares of LGN (NASDAQ:LGN - Free Report) by 383.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 146,358 shares of the company's stock after purchasing an additional 116,079 shares during the period. First Trust Advisors LP owned approximately 0.14% of LGN worth $8,263,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Assetmark Inc. acquired a new stake in shares of LGN during the fourth quarter worth $31,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of LGN during the fourth quarter valued at $64,000. KBC Group NV acquired a new position in shares of LGN in the 1st quarter valued at $66,000. Kestra Advisory Services LLC acquired a new position in shares of LGN in the 4th quarter valued at $91,000. Finally, Clearstead Advisors LLC purchased a new position in LGN in the 4th quarter worth $140,000.

Analysts Set New Price Targets

LGN has been the subject of a number of research reports. BTIG Research lifted their price target on LGN from $75.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Tigress Financial increased their price objective on LGN from $85.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. 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 note on Wednesday, July 22nd. Glj Research assumed coverage on LGN in a report on Tuesday, April 21st. They set a "buy" rating and a $99.00 target price for the company. Finally, BMO Capital Markets upped their target price on LGN from $63.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, LGN currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.80.

LGN Price Performance

NASDAQ:LGN opened at $63.93 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30. The business has a fifty day simple moving average of $77.84. LGN has a 1-year low of $26.96 and a 1-year high of $107.24. The firm has a market capitalization of $6.91 billion and a price-to-earnings ratio of 277.96.

LGN (NASDAQ:LGN - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The company had revenue of $1.04 billion for the quarter. The company's revenue for the quarter was up 105.2% on a year-over-year basis. Equities analysts anticipate that LGN will post 1.24 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.