LGN $LGN Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its position in shares of LGN (NASDAQ:LGN) by 1,923.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,568 shares of the company’s stock after buying an additional 13,848 shares during the period. Assetmark Inc.’s holdings in LGN were worth $823,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of LGN during the 4th quarter worth $64,000. Kestra Advisory Services LLC acquired a new stake in LGN in the fourth quarter valued at $91,000. Clearstead Advisors LLC acquired a new stake in LGN in the fourth quarter valued at $140,000. Comerica Bank acquired a new position in shares of LGN during the 4th quarter worth about $192,000. Finally, DNB Asset Management AS purchased a new position in shares of LGN in the 4th quarter valued at about $215,000.

LGN Trading Down 5.4%

LGN stock opened at $70.80 on Friday. LGN has a twelve month low of $26.96 and a twelve month high of $107.24. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $7.65 billion and a P/E ratio of 307.83. The company has a 50 day moving average price of $79.96.

LGN (NASDAQ:LGN) last announced its 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 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. Research analysts predict that LGN will post 1.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Loop Capital began coverage on LGN in a research report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price on the stock. Stifel Nicolaus increased their target price on shares of LGN from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Guggenheim lifted their price target on shares of LGN from $106.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Tigress Financial boosted their price target on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LGN in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, LGN currently has an average rating of “Moderate Buy” and a consensus target price of $96.80.

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.