Pictet Asset Management Holding SA Boosts Stake in LGN $LGN

Pictet Asset Management Holding SA increased its holdings in shares of LGN (NASDAQ:LGN) by 349.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,842 shares of the company’s stock after acquiring an additional 139,842 shares during the period. Pictet Asset Management Holding SA owned approximately 0.17% of LGN worth $10,154,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Janus Henderson Group PLC boosted its position in shares of LGN by 128.4% during the 4th quarter. Janus Henderson Group PLC now owns 4,401,402 shares of the company’s stock worth $189,442,000 after purchasing an additional 2,474,220 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of LGN during the 4th quarter worth $69,438,000. Vanguard Group Inc. increased its holdings in shares of LGN by 78.1% in 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. Munro Partners increased its holdings in shares of LGN by 1,875.9% in the 4th quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after purchasing an additional 1,325,957 shares in the last quarter. Finally, CI Investments Inc. lifted its stake in shares of 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 purchasing an additional 754,157 shares during the period.

LGN Price Performance

LGN stock opened at $75.83 on Friday. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.06. The stock has a 50-day simple moving average of $85.68. The stock has a market cap of $8.19 billion and a price-to-earnings ratio of 329.70.

LGN (NASDAQ:LGN) last posted its 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 business had revenue of $1.04 billion for the quarter. The company’s revenue was up 105.2% on a year-over-year basis. On average, research analysts expect that LGN will post 1.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. BMO Capital Markets increased their target price on shares of LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Zacks Research downgraded shares of LGN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Glj Research assumed coverage on LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 price target on the stock. Finally, Tigress Financial upped their price target on LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.