LGN $LGN Stock Position Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in LGN (NASDAQ:LGN) by 25.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,685 shares of the company’s stock after selling 27,197 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of LGN worth $3,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in LGN by 78.1% in the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after acquiring an additional 1,415,282 shares during the last quarter. Capelight Capital Asset Management LP acquired a new stake in LGN in the 4th quarter valued at about $4,089,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in LGN by 1,073.4% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock valued at $3,732,000 after acquiring an additional 79,323 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in LGN in the 4th quarter valued at about $3,681,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in LGN in the 4th quarter valued at about $3,179,000.

LGN Trading Down 0.5%

LGN stock opened at $81.58 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06. LGN has a one year low of $26.96 and a one year high of $107.24. The stock has a market capitalization of $8.81 billion and a price-to-earnings ratio of 354.70. The firm’s 50-day moving average price is $70.98.

LGN (NASDAQ:LGN) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion for the quarter. The firm’s revenue was up 105.2% compared to the same quarter last year. On average, equities research analysts anticipate that LGN will post 1.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Tigress Financial upped their price target on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Guggenheim upped their price target on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Stifel Nicolaus upped their price target on shares of LGN from $58.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. BMO Capital Markets upped their price target on shares of LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, Glj Research assumed coverage on shares of LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.40.

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.