Conestoga Capital Advisors LLC Makes New Investment in LGN $LGN

Conestoga Capital Advisors LLC bought a new stake in LGN (NASDAQ:LGN) during the 1st quarter, HoldingsChannel reports. The fund bought 415,860 shares of the company’s stock, valued at approximately $23,479,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. bought a new stake in shares of LGN during the 4th quarter worth approximately $31,000. Aster Capital Management DIFC Ltd bought a new position in LGN in the fourth quarter valued at approximately $64,000. Kestra Advisory Services LLC acquired a new position in LGN during the fourth quarter valued at approximately $91,000. Clearstead Advisors LLC acquired a new position in LGN during the fourth quarter valued at approximately $140,000. Finally, Comerica Bank bought a new stake in LGN during the fourth quarter worth $192,000.

LGN Stock Down 6.1%

Shares of LGN opened at $80.00 on Thursday. LGN has a 12-month low of $26.96 and a 12-month high of $107.24. The stock has a 50-day moving average price of $85.76. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm has a market cap of $8.64 billion and a PE ratio of 347.83.

LGN (NASDAQ:LGN) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion during the quarter. The business’s revenue for the quarter was up 105.2% compared to the same quarter last year. On average, equities research analysts expect that LGN will post 1.24 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on LGN shares. BMO Capital Markets upped their price objective on LGN from $63.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. BTIG Research boosted their target price on LGN from $75.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Tigress Financial lifted their price target on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Glj Research initiated coverage on shares of LGN in a research report on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective for the company. Finally, Royal Bank Of Canada upped their price objective on shares of LGN from $48.00 to $64.00 and gave the stock an “outperform” rating in a research 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 issued a Sell rating to the stock. According to data from MarketBeat, LGN presently has an average rating of “Moderate Buy” and an average price target of $88.40.

LGN 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.