Value Aligned Research Advisors LLC Acquires 56,460 Shares of LGN $LGN

Key Points

• Value Aligned Research Advisors LLC increased its LGN holdings by 22.4% in the first quarter, acquiring 56,460 shares for a total position of 308,141 shares valued at approximately $17.4 million.
• Institutional interest expanded, with several investment firms initiating positions and Allspring Global Investments increasing its stake by 65.7%. Analysts maintain a “Moderate Buy” consensus with an average price target of $96.80, despite mixed ratings.
• LGN shares opened at $59.21, down 12.5%, after the company reported quarterly EPS of $0.13—below the $0.19 consensus—while revenue rose 105.2% year over year to $1.04 billion.

Value Aligned Research Advisors LLC raised its holdings in LGN (NASDAQ:LGN - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 308,141 shares of the company's stock after acquiring an additional 56,460 shares during the quarter. Value Aligned Research Advisors LLC owned approximately 0.29% of LGN worth $17,398,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Freestone Capital Holdings LLC acquired a new stake in LGN in the fourth quarter valued at $1,153,000. Pictet Asset Management Holding SA bought a new position in LGN during the 4th quarter worth $1,722,000. Capelight Capital Asset Management LP acquired a new position in LGN during the 4th quarter worth about $4,089,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in LGN during the 4th quarter worth about $3,179,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of LGN by 65.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 176,251 shares of the company's stock valued at $9,951,000 after buying an additional 69,914 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LGN shares. Weiss Ratings reissued a "sell (d-)" rating on shares of LGN in a research note on Friday, June 26th. BTIG Research lifted their price objective on LGN from $75.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Glj Research started coverage on LGN in a report on Tuesday, April 21st. They issued a "buy" rating and a $99.00 target price on the stock. BMO Capital Markets increased their target price on shares of LGN from $63.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, May 15th. Finally, Barclays increased 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, LGN currently has an average rating of "Moderate Buy" and an average price target of $96.80.

LGN Stock Down 12.5%

LGN stock opened at $59.21 on Wednesday. The firm has a market capitalization of $6.40 billion and a price-to-earnings ratio of 257.43. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. LGN has a 12-month low of $26.96 and a 12-month high of $107.24. The firm has a fifty day moving average price of $79.23.

LGN (NASDAQ:LGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). The business had revenue of $1.04 billion for the quarter. The company's quarterly revenue was up 105.2% compared to the same quarter last year. Research analysts expect that LGN will post 1.24 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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