LGN $LGN Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its holdings in shares of LGN (NASDAQ:LGN) by 87.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 579,700 shares of the company’s stock after buying an additional 270,615 shares during the period. Renaissance Technologies LLC’s holdings in LGN were worth $32,730,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LGN. Assetmark Inc. bought a new position in LGN in the fourth quarter worth about $31,000. Aster Capital Management DIFC Ltd bought a new position in shares of LGN during the fourth quarter valued at approximately $64,000. KBC Group NV bought a new position in shares of LGN during the first quarter valued at approximately $66,000. Kestra Advisory Services LLC acquired a new stake in shares of LGN during the 4th quarter worth approximately $91,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of LGN during the 4th quarter worth approximately $140,000.

LGN Trading Down 12.5%

Shares of NASDAQ:LGN opened at $59.21 on Wednesday. The company has a 50 day moving average price of $79.23. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. The firm has a market capitalization of $6.40 billion and a price-to-earnings ratio of 257.43. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06.

LGN (NASDAQ:LGN) last released 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 firm 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. Analysts predict that LGN will post 1.24 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on LGN shares. Barclays raised their price target on LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Tigress Financial increased their target price on LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. BMO Capital Markets raised their target price on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of LGN in a report on Friday, June 26th. Finally, Loop Capital started coverage on shares of LGN in a report on Wednesday, April 29th. They set a “buy” rating and a $96.00 price target for the company. One equities research 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.