Pictet Asset Management Holding SA Makes New $1.72 Million Investment in LGN $LGN

Key Points

• Pictet Asset Management bought a new position of 40,000 shares in LGN in Q4 valued at about $1.72M, joining other institutions (including Mirae Asset and LBP AM SA) that initiated multi‑million dollar stakes.
• Analyst sentiment is mixed but overall favorable, with a consensus rating of Moderate Buy and an average target of $72.70, while some firms (BMO, Stifel, Barclays) raised targets and others (Weiss, Zacks) issued negative or downgraded views.
• LGN reported Q4 EPS of -$0.55, missing estimates while revenue of $737.6M beat expectations and was up 34.5% year‑over‑year; the stock is trading near its 52‑week high (~$91) with a market cap around $9.88B.

Pictet Asset Management Holding SA bought a new position in LGN (NASDAQ:LGN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 40,000 shares of the company's stock, valued at approximately $1,722,000.

Other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new stake in LGN in the fourth quarter worth approximately $31,000. Freestone Capital Holdings LLC bought a new stake in LGN in the fourth quarter worth approximately $1,153,000. Harbor Capital Advisors Inc. bought a new stake in LGN in the fourth quarter worth approximately $1,220,000. LBP AM SA bought a new stake in LGN in the fourth quarter worth approximately $2,887,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in LGN in the fourth quarter worth approximately $3,179,000.

Analyst Ratings Changes

Several analysts have commented on LGN shares. Barclays boosted their target price on shares of LGN from $37.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Friday, January 23rd. Weiss Ratings initiated coverage on shares of LGN in a research note on Wednesday, January 14th. They issued a "sell (d+)" rating for the company. Zacks Research cut shares of LGN from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. BMO Capital Markets boosted their price objective on shares of LGN from $46.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, March 30th. Finally, Stifel Nicolaus boosted their price objective on shares of LGN from $58.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $72.70.

LGN Trading Up 1.5%

Shares of LGN stock opened at $91.41 on Tuesday. The business has a fifty day moving average price of $60.57. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.57 and a quick ratio of 1.57. LGN has a 1-year low of $26.96 and a 1-year high of $92.04. The firm has a market capitalization of $9.88 billion and a PE ratio of -9,141.00.

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

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