LGN $LGN Stock Position Lifted by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd increased its LGN stake by 174% in the second quarter, purchasing 52,904 additional shares to own 83,300 shares valued at approximately $7.1 million.
• Analyst sentiment remains broadly positive, with LGN holding a “Moderate Buy” consensus rating and an average price target of $99.50, despite several analysts lowering their targets.
• LGN shares opened at $55.22, well below their 52-week high of $107.24. The company’s latest quarterly results missed expectations, reporting a $0.37 loss per share versus the anticipated $0.26 profit.

WINTON GROUP Ltd raised its stake in LGN (NASDAQ:LGN - Free Report) by 174.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,300 shares of the company's stock after buying an additional 52,904 shares during the quarter. WINTON GROUP Ltd owned 0.08% of LGN worth $7,100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. KBC Group NV purchased a new position in shares of LGN during the 1st quarter valued at $66,000. Aster Capital Management DIFC Ltd acquired a new stake in LGN during the fourth quarter valued at $64,000. Nykredit A S acquired a new stake in LGN during the second quarter valued at $128,000. Clearbridge Investments LLC grew its stake in LGN by 0.4% in the fourth quarter. Clearbridge Investments LLC now owns 401,667 shares of the company's stock valued at $17,288,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Symmetry Investments LP grew its stake in LGN by 21.9% in the fourth quarter. Symmetry Investments LP now owns 9,750 shares of the company's stock valued at $420,000 after purchasing an additional 1,750 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank Of Canada dropped their target price on LGN from $106.00 to $101.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings cut LGN from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 31st. BTIG Research restated a "buy" rating and issued a $100.00 price objective (down from $120.00) on shares of LGN in a report on Friday, August 14th. Guggenheim reaffirmed a "buy" rating and set a $115.00 price objective on shares of LGN in a research report on Tuesday, August 18th. Finally, Roth Capital reaffirmed a "buy" rating and set a $120.00 price objective on shares of LGN in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $99.50.

LGN Price Performance

NASDAQ LGN opened at $55.22 on Thursday. LGN has a fifty-two week low of $26.96 and a fifty-two week high of $107.24. The stock's 50-day moving average is $64.14 and its two-hundred day moving average is $69.55. The firm has a market cap of $5.97 billion and a P/E ratio of 138.05. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.35 and a quick ratio of 1.35.

LGN (NASDAQ:LGN - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.63). LGN had a positive return on equity of 4.33% and a negative net margin of 1.20%.The company had revenue of $1.26 billion for the quarter. On average, analysts anticipate that LGN will post 1.36 earnings per share 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.

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