LGN $LGN Shares Acquired by Needham Investment Management LLC

Needham Investment Management LLC lifted its holdings in shares of LGN (NASDAQ:LGN) by 92.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,500 shares of the company’s stock after acquiring an additional 32,500 shares during the quarter. Needham Investment Management LLC owned about 0.06% of LGN worth $2,905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in LGN. Assetmark Inc. bought a new stake in shares of LGN in the 4th quarter worth about $31,000. Clearbridge Investments LLC grew its position in LGN by 0.4% in the 4th quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock worth $17,288,000 after purchasing an additional 1,667 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of LGN in the 4th quarter worth approximately $91,000. Clearstead Advisors LLC acquired a new stake in shares of LGN in the 4th quarter worth approximately $140,000. Finally, Comerica Bank acquired a new stake in shares of LGN in the 4th quarter worth approximately $192,000.

Wall Street Analyst Weigh In

Several research firms recently commented on LGN. Glj Research began coverage on shares of LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 target price for the company. Barclays boosted their price target on shares of LGN from $45.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. Royal Bank Of Canada upped their price objective on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Loop Capital initiated coverage on shares of LGN in a research note on Wednesday, April 29th. They set a “buy” rating and a $96.00 price target on the stock. Finally, Tigress Financial increased their price target on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.40.

LGN Price Performance

Shares of LGN stock opened at $86.73 on Tuesday. 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 fifty-two week low of $26.96 and a fifty-two week high of $107.24. The firm has a fifty day moving average of $81.18. The company has a market cap of $9.37 billion and a P/E ratio of 377.09.

LGN (NASDAQ:LGN) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share 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 firm’s quarterly revenue was up 105.2% compared to the same quarter last year. Analysts expect that LGN will post 1.24 earnings per share for the current fiscal 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.