Engle Capital Management L.P. Invests $24.06 Million in LGN $LGN

Engle Capital Management L.P. bought a new stake in shares of LGN (NASDAQ:LGN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 559,000 shares of the company’s stock, valued at approximately $24,059,000. LGN makes up approximately 9.3% of Engle Capital Management L.P.’s portfolio, making the stock its 3rd largest position. Engle Capital Management L.P. owned 0.53% of LGN at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in LGN by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after acquiring an additional 1,415,282 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in LGN during the fourth quarter valued at $69,438,000. Munro Partners grew its stake in LGN by 1,875.9% during the fourth quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after acquiring an additional 1,325,957 shares in the last quarter. CI Investments Inc. grew its stake in LGN by 2,209.7% during the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after acquiring an additional 754,157 shares in the last quarter. Finally, Norges Bank purchased a new position in LGN during the fourth quarter valued at $30,343,000.

LGN Stock Down 0.4%

LGN stock opened at $85.11 on Thursday. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06. The company’s fifty day simple moving average is $82.32. The company has a market capitalization of $9.20 billion and a price-to-earnings ratio of 370.04.

LGN (NASDAQ:LGN) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business had revenue of $1.04 billion for the quarter. The business’s quarterly revenue was up 105.2% on a year-over-year basis. As a group, analysts anticipate that LGN will post 1.24 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on LGN shares. BTIG Research raised their target price on shares of LGN from $75.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Royal Bank Of Canada raised their target price 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. Barclays raised their target price on shares of LGN from $45.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. BMO Capital Markets raised their target price on shares of LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Guggenheim raised their target price on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock 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.