6,896 Shares in LGN $LGN Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. bought a new stake in shares of LGN (NASDAQ:LGN) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 6,896 shares of the company’s stock, valued at approximately $297,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Comerica Bank bought a new stake in LGN during the 4th quarter valued at $192,000. Pictet Asset Management Holding SA bought a new stake in LGN during the 4th quarter valued at $1,722,000. Vanguard Group Inc. raised its position in LGN by 78.1% during the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after purchasing an additional 1,415,282 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in LGN by 1,073.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock valued at $3,732,000 after purchasing an additional 79,323 shares in the last quarter. Finally, Asset Management One Co. Ltd. bought a new stake in LGN during the 4th quarter valued at $3,681,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LGN shares. Barclays lifted their target price on LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Royal Bank Of Canada lifted their target price on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Weiss Ratings started coverage on LGN in a research report on Wednesday, January 14th. They set a “sell (d+)” rating for the company. Loop Capital started coverage on LGN in a research report on Wednesday, April 29th. They set a “buy” rating and a $96.00 target price for the company. Finally, The Goldman Sachs Group lifted 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 equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, LGN currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.70.

LGN Trading Down 4.7%

Shares of NASDAQ:LGN opened at $97.44 on Friday. LGN has a 12-month low of $26.96 and a 12-month high of $102.64. The firm has a fifty day moving average of $63.30. The stock has a market cap of $10.53 billion and a P/E ratio of -9,744.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.57 and a quick ratio of 1.57.

LGN (NASDAQ:LGN) last announced its quarterly earnings results on Friday, March 27th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.60). The firm had revenue of $737.64 million during the quarter, compared to analyst estimates of $616.05 million. The company’s quarterly revenue was up 34.5% compared to the same quarter last year. Research analysts predict that LGN will post 1.31 EPS for the current year.

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.