Peregrine Capital Management LLC Decreases Holdings in LGN $LGN

Peregrine Capital Management LLC trimmed its stake in LGN (NASDAQ:LGN) by 6.0% during the fourth quarter, Holdings Channel reports. The fund owned 240,889 shares of the company’s stock after selling 15,358 shares during the period. Peregrine Capital Management LLC’s holdings in LGN were worth $10,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Assetmark Inc. bought a new stake in shares of LGN in the 4th quarter worth approximately $31,000. Freestone Capital Holdings LLC purchased a new stake in LGN in the fourth quarter worth $1,153,000. Harbor Capital Advisors Inc. purchased a new stake in LGN in the fourth quarter worth $1,220,000. LBP AM SA bought a new stake in shares of LGN in the fourth quarter valued at $2,887,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of LGN during the 4th quarter valued at $3,179,000.

LGN Trading Up 1.8%

Shares of LGN stock traded up $1.39 on Thursday, reaching $80.67. The stock had a trading volume of 173,697 shares, compared to its average volume of 1,423,869. The stock’s 50 day moving average price is $56.45. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.03. LGN has a 1 year low of $26.96 and a 1 year high of $81.80. The stock has a market capitalization of $8.72 billion and a P/E ratio of -8,077.00.

LGN (NASDAQ:LGN) last issued its quarterly earnings data on Friday, March 27th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.60). The company had revenue of $737.64 million for the quarter, compared to the consensus estimate of $616.05 million. LGN’s revenue was up 34.5% on a year-over-year basis. On average, equities analysts anticipate that LGN will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on LGN shares. Zacks Research downgraded LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Barclays upped their price objective on shares of LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Glj Research initiated coverage on shares of LGN in a research report on Tuesday. They issued a “buy” rating and a $99.00 price target on the stock. Tigress Financial raised their price objective on shares of LGN from $60.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Royal Bank Of Canada lifted their price objective on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $70.11.

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.