Peregrine Capital Management LLC Sells 15,358 Shares of LGN $LGN

Key Points

• Peregrine Capital Management reduced its LGN stake by 6.0%, selling 15,358 shares and ending the quarter with 240,889 shares (about 0.23% ownership) valued at roughly $10.37 million.
• Quarterly results showed an EPS miss (−$0.55 vs. $0.05 expected) but revenue beat estimates at $737.64 million, up 34.5% year‑over‑year.
• Analysts have become more positive—multiple firms raised price targets (e.g., Goldman Sachs to $72, RBC to $64) and the consensus is a "Moderate Buy" with a $70.11 target; LGN traded at $80.67 in the latest session.

Peregrine Capital Management LLC lessened its stake in shares of LGN (NASDAQ:LGN - Free Report) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,889 shares of the company's stock after selling 15,358 shares during the quarter. Peregrine Capital Management LLC owned about 0.23% of LGN worth $10,368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LGN. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in LGN by 1,073.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company's stock worth $3,732,000 after buying an additional 79,323 shares during the period. Asset Management One Co. Ltd. acquired a new stake in LGN in the fourth quarter valued at approximately $3,681,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of LGN during the fourth quarter valued at approximately $3,179,000. LBP AM SA bought a new stake in shares of LGN during the fourth quarter valued at approximately $2,887,000. Finally, Capelight Capital Asset Management LP acquired a new position in shares of LGN during the fourth quarter worth approximately $4,089,000.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of LGN from $48.00 to $64.00 and gave the company an "outperform" rating in a research report on Monday, March 30th. Weiss Ratings started coverage on shares of LGN in a research report on Wednesday, January 14th. They set a "sell (d+)" rating for the company. The Goldman Sachs Group raised their price target on shares of LGN from $63.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, April 16th. Guggenheim boosted their price objective on LGN from $53.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, March 26th. Finally, BMO Capital Markets raised their target price on LGN from $46.00 to $63.00 and gave the company an "outperform" rating in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.11.

LGN Trading Up 1.8%

Shares of LGN stock traded up $1.39 during trading on Thursday, hitting $80.67. The company's stock had a trading volume of 173,697 shares, compared to its average volume of 1,423,869. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03. The company has a market cap of $8.72 billion and a P/E ratio of -8,077.00. The business's fifty day moving average is $56.45. LGN has a 52 week low of $26.96 and a 52 week high of $81.80.

LGN (NASDAQ:LGN - Get Free Report) last posted its quarterly earnings data on Friday, March 27th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.60). The business had revenue of $737.64 million during the quarter, compared to analyst estimates of $616.05 million. The business's revenue was up 34.5% on a year-over-year basis. As a group, research analysts predict that LGN will post 1.31 EPS for the current year.

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.

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.