Truist Financial Corp Invests $276,000 in LGN $LGN

Truist Financial Corp bought a new position in shares of LGN (NASDAQ:LGN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,402 shares of the company’s stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. purchased a new stake in shares of LGN during the fourth quarter worth about $31,000. Comerica Bank purchased a new stake in shares of LGN during the fourth quarter worth about $192,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of LGN during the fourth quarter worth about $297,000. Freestone Capital Holdings LLC purchased a new stake in shares of LGN during the fourth quarter worth about $1,153,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of LGN during the fourth quarter worth about $1,220,000.

LGN Trading Down 0.6%

Shares of NASDAQ LGN opened at $81.95 on Friday. LGN has a 12-month low of $26.96 and a 12-month high of $107.24. The stock has a market cap of $8.85 billion and a PE ratio of 356.30. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30. The company’s 50-day simple moving average is $70.38.

LGN (NASDAQ:LGN) last announced its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (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 was up 105.2% compared to the same quarter last year. On average, sell-side analysts forecast that LGN will post 1.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Glj Research assumed coverage on shares of LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Stifel Nicolaus boosted their target price on shares of LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Barclays upped their price objective on shares of LGN from $45.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Tigress Financial upped their price objective on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.40.

LGN Company 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.