TimesSquare Capital Management LLC Lowers Position in LGN $LGN

TimesSquare Capital Management LLC decreased its position in LGN (NASDAQ:LGN) by 31.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 437,480 shares of the company’s stock after selling 196,162 shares during the period. TimesSquare Capital Management LLC owned about 0.42% of LGN worth $18,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LGN. Vanguard Group Inc. boosted its holdings in LGN by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after buying an additional 1,415,282 shares in the last quarter. Hiddenite Capital Partners LP purchased a new stake in LGN during the fourth quarter worth about $6,569,000. Capelight Capital Asset Management LP purchased a new stake in LGN during the fourth quarter worth about $4,089,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in LGN by 1,073.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock worth $3,732,000 after buying an additional 79,323 shares in the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in LGN during the fourth quarter worth about $3,681,000.

LGN Trading Down 3.5%

Shares of LGN opened at $80.38 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $8.68 billion and a PE ratio of -8,038.00. The business’s 50-day simple moving average is $69.13. LGN has a 12-month low of $26.96 and a 12-month high of $107.24.

LGN (NASDAQ:LGN) last announced its 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 business had revenue of $1.04 billion for the quarter. The company’s revenue for the quarter was up 105.2% on a year-over-year basis. As a group, analysts forecast that LGN will post 1.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on LGN. Loop Capital began coverage on shares of LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price objective on the stock. Tigress Financial boosted their price objective on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus boosted their price objective on shares of LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. BTIG Research boosted their price objective on shares of LGN from $75.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, LGN presently has a consensus rating of “Moderate Buy” and an average 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.