LGN $LGN Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lowered its holdings in shares of LGN (NASDAQ:LGN) by 31.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 437,480 shares of the company’s stock after selling 196,162 shares during the quarter. TimesSquare Capital Management LLC’s holdings in LGN were worth $18,829,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LGN. Vanguard Group Inc. raised its position in 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 acquiring an additional 1,415,282 shares during the last quarter. Hiddenite Capital Partners LP acquired a new position in shares of LGN in the fourth quarter valued at approximately $6,569,000. Capelight Capital Asset Management LP acquired a new position in shares of LGN in the fourth quarter valued at approximately $4,089,000. Asset Management One Co. Ltd. acquired a new position in shares of LGN in the fourth quarter valued at approximately $3,681,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of LGN by 1,073.4% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,713 shares of the company’s stock valued at $3,732,000 after buying an additional 79,323 shares during the last quarter.

LGN Price Performance

NASDAQ:LGN opened at $80.38 on Wednesday. LGN has a 1-year low of $26.96 and a 1-year high of $107.24. 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 50 day moving average price of $69.13. The firm has a market capitalization of $8.68 billion and a price-to-earnings ratio of -8,038.00.

LGN (NASDAQ:LGN) last issued 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 business’s revenue for the quarter was up 105.2% compared to the same quarter last year. As a group, sell-side analysts expect that LGN will post 1.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LGN. Stifel Nicolaus boosted their price objective on shares of LGN from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada boosted their price objective on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Loop Capital began coverage on shares of LGN in a research report on Wednesday, April 29th. They issued a “buy” rating and a $96.00 price objective for the company. BTIG Research boosted their price objective 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. Finally, BMO Capital Markets boosted their price objective on shares of LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, LGN has an average rating of “Moderate Buy” and a consensus price target 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.