Sei Investments Co. Raises Stock Holdings in LGN $LGN

Sei Investments Co. increased its position in LGN (NASDAQ:LGN) by 132.0% in the first quarter, HoldingsChannel.com reports. The fund owned 104,136 shares of the company’s stock after buying an additional 59,250 shares during the period. Sei Investments Co.’s holdings in LGN were worth $5,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in LGN. Janus Henderson Group PLC increased its holdings in shares of LGN by 128.4% in the fourth quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock valued at $189,442,000 after purchasing an additional 2,474,220 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of LGN during the fourth quarter worth about $69,438,000. Vanguard Group Inc. lifted its holdings in shares of LGN by 78.1% during the fourth quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock worth $138,919,000 after purchasing an additional 1,415,282 shares during the period. Munro Partners boosted its position in LGN by 1,875.9% in the fourth quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after buying an additional 1,325,957 shares during the last quarter. Finally, CI Investments Inc. boosted its position in LGN by 2,209.7% in the fourth quarter. CI Investments Inc. now owns 788,287 shares of the company’s stock valued at $33,928,000 after buying an additional 754,157 shares during the last quarter.

LGN Stock Up 1.8%

Shares of LGN opened at $66.49 on Wednesday. The company has a market capitalization of $7.18 billion and a price-to-earnings ratio of 289.09. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. The stock’s 50-day moving average price is $77.11 and its 200-day moving average price is $67.61. 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 announced its quarterly earnings results on Thursday, May 14th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $1.04 billion during the quarter. The company’s revenue was up 105.2% on a year-over-year basis. On average, sell-side analysts predict that LGN will post 1.24 EPS for the current year.

Analysts Set New Price Targets

LGN has been the subject of a number of recent research reports. Barclays raised their price target on shares of LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, June 22nd. BMO Capital Markets upped their price objective on shares of LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Loop Capital initiated coverage on shares of LGN in a research note on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price objective on the stock. Guggenheim raised their target price on shares of LGN from $106.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, BTIG Research boosted their target price on shares of LGN from $75.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.80.

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.