Engle Capital Management L.P. Acquires Shares of 559,000 LGN $LGN

Engle Capital Management L.P. bought a new position in LGN (NASDAQ:LGN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 559,000 shares of the company’s stock, valued at approximately $24,059,000. LGN comprises 9.3% of Engle Capital Management L.P.’s portfolio, making the stock its 3rd biggest position.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. bought a new stake in shares of LGN in the 4th quarter worth about $31,000. Aster Capital Management DIFC Ltd bought a new stake in shares of LGN in the 4th quarter worth about $64,000. Kestra Advisory Services LLC bought a new stake in shares of LGN in the 4th quarter worth about $91,000. Clearstead Advisors LLC bought a new stake in shares of LGN in the 4th quarter worth about $140,000. Finally, Comerica Bank bought a new stake in shares of LGN in the 4th quarter worth about $192,000.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Glj Research assumed coverage on shares of LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 target price for the company. Tigress Financial raised their target price on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Loop Capital assumed coverage on shares of LGN in a report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 target price for the company. Guggenheim raised their target price on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Finally, Royal Bank Of Canada raised their target price on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, LGN has a consensus rating of “Moderate Buy” and an average target price of $86.40.

LGN Price Performance

LGN stock opened at $85.11 on Thursday. The stock has a market cap of $9.20 billion and a P/E ratio of 370.04. LGN has a 12 month low of $26.96 and a 12 month high of $107.24. The business has a 50-day moving average of $82.32. 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 posted its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.04 billion for the quarter. The firm’s revenue was up 105.2% compared to the same quarter last year. Sell-side analysts forecast that LGN will post 1.24 EPS for the current fiscal 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.