Allspring Global Investments Holdings LLC Acquires 69,914 Shares of LGN $LGN

Allspring Global Investments Holdings LLC lifted its stake in LGN (NASDAQ:LGN) by 65.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,251 shares of the company’s stock after buying an additional 69,914 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.16% of LGN worth $9,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. purchased a new stake in LGN in the 4th quarter worth $31,000. Aster Capital Management DIFC Ltd bought a new position in shares of LGN during the fourth quarter worth $64,000. Kestra Advisory Services LLC bought a new position in shares of LGN during the fourth quarter worth $91,000. Clearstead Advisors LLC purchased a new position in LGN during the fourth quarter valued at $140,000. Finally, Comerica Bank purchased a new position in LGN during the fourth quarter valued at $192,000.

LGN Stock Up 0.4%

Shares of NASDAQ:LGN opened at $72.87 on Thursday. The business has a 50 day moving average price of $80.52. The company has a market capitalization of $7.87 billion and a PE ratio of 316.83. LGN has a 52-week low of $26.96 and a 52-week high of $107.24. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30.

LGN (NASDAQ:LGN) last issued its 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 during the quarter. The company’s quarterly revenue was up 105.2% compared to the same quarter last year. On average, sell-side analysts anticipate that LGN will post 1.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LGN has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of LGN in a research report on Friday, June 26th. Loop Capital initiated coverage on LGN in a research note on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price objective on the stock. The Goldman Sachs Group increased their price objective on shares of LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Guggenheim boosted their target price on shares of LGN from $106.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Royal Bank Of Canada decreased their target price on shares of LGN from $106.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday. 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.80.

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.