Monashee Investment Management LLC Sells 12,060 Shares of LGN $LGN

Monashee Investment Management LLC lowered its stake in shares of LGN (NASDAQ:LGN) by 8.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 137,940 shares of the company’s stock after selling 12,060 shares during the quarter. LGN makes up 3.3% of Monashee Investment Management LLC’s holdings, making the stock its 11th biggest position. Monashee Investment Management LLC’s holdings in LGN were worth $5,937,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LGN. Harbor Capital Advisors Inc. bought a new position in shares of LGN during the 4th quarter valued at approximately $1,220,000. Assetmark Inc. bought a new position in shares of LGN during the 4th quarter valued at approximately $31,000. Freestone Capital Holdings LLC bought a new position in shares of LGN during the 4th quarter valued at approximately $1,153,000. Capelight Capital Asset Management LP bought a new position in shares of LGN during the 4th quarter valued at approximately $4,089,000. Finally, LBP AM SA bought a new position in shares of LGN during the 4th quarter valued at approximately $2,887,000.

LGN Stock Up 5.5%

LGN opened at $85.12 on Friday. The firm’s fifty day simple moving average is $80.09. LGN has a 52-week low of $26.96 and a 52-week high of $107.24. 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 stock has a market cap of $9.20 billion and a PE ratio of 370.09.

LGN (NASDAQ:LGN) last posted its quarterly earnings data 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 company had revenue of $1.04 billion during the quarter. The company’s revenue was up 105.2% on a year-over-year basis. Equities analysts anticipate that LGN will post 1.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on LGN. Guggenheim boosted their target price on LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. BMO Capital Markets boosted their target price on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. BTIG Research boosted their target price on LGN from $75.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Tigress Financial boosted their target price on LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group boosted their target price on LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.