LGN $LGN Shares Bought by Value Aligned Research Advisors LLC

Key Points

• Value Aligned Research Advisors LLC more than doubled its LGN position in the second quarter, increasing holdings by 124.6% to 692,150 shares valued at approximately $59 million.
• Analysts maintain a generally positive outlook, with LGN receiving a “Moderate Buy” consensus rating and an average price target of $99.50; several firms recently raised their targets.
• LGN reported quarterly revenue of $1.26 billion but missed earnings expectations, posting a loss of $0.37 per share versus the consensus estimate of $0.26 in earnings.

Value Aligned Research Advisors LLC grew its position in LGN (NASDAQ:LGN - Free Report) by 124.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 692,150 shares of the company's stock after buying an additional 384,009 shares during the period. Value Aligned Research Advisors LLC owned 0.64% of LGN worth $58,992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. KBC Group NV acquired a new stake in LGN during the first quarter worth $66,000. Aster Capital Management DIFC Ltd acquired a new position in shares of LGN in the 4th quarter valued at $64,000. Nykredit A S acquired a new position in shares of LGN in the 2nd quarter valued at $128,000. Kestra Advisory Services LLC acquired a new position in shares of LGN in the 4th quarter valued at $91,000. Finally, Avior Wealth Management LLC purchased a new position in shares of LGN during the 2nd quarter worth $203,000.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LGN shares. Tigress Financial raised their price objective on LGN from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Barclays upped their target price on shares of LGN from $60.00 to $80.00 and gave the company an "equal weight" rating in a research report on Monday, June 22nd. Bank of America increased their target price on shares of LGN from $105.00 to $116.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. BMO Capital Markets lifted their price target on shares of LGN from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Finally, Roth Capital restated a "buy" rating and issued a $120.00 price objective on shares of LGN in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LGN currently has an average rating of "Moderate Buy" and an average target price of $99.50.

LGN Price Performance

LGN opened at $57.58 on Friday. The stock's 50-day moving average price is $69.36 and its 200 day moving average price is $69.30. LGN has a 12-month low of $26.96 and a 12-month high of $107.24. The firm has a market cap of $6.22 billion and a price-to-earnings ratio of 143.95. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN - Get Free Report) last released 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). The firm had revenue of $1.26 billion during the quarter. LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. As a group, sell-side analysts expect that LGN will post 1.36 earnings per share for the current year.

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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