Truist Financial Corp Takes $276,000 Position in LGN $LGN

Truist Financial Corp purchased a new stake in LGN (NASDAQ:LGN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,402 shares of the company’s stock, valued at approximately $276,000.

Several other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of LGN in the 4th quarter valued at approximately $297,000. Comerica Bank purchased a new stake in shares of LGN in the 4th quarter valued at approximately $192,000. Pictet Asset Management Holding SA purchased a new stake in shares of LGN in the 4th quarter valued at approximately $1,722,000. Vanguard Group Inc. grew its stake 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 buying an additional 1,415,282 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of LGN by 1,073.4% in the 4th 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 period.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LGN shares. Tigress Financial increased their price target on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim upped their price objective on shares of LGN from $53.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Barclays upped their price objective on shares of LGN from $45.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group upped their price objective on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Glj Research started coverage on shares of LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price objective on the stock. One equities research 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.40.

LGN Stock Performance

Shares of LGN stock opened at $81.95 on Friday. The business has a 50 day moving average of $70.38. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30. LGN has a one year low of $26.96 and a one year high of $107.24. The firm has a market cap of $8.85 billion and a price-to-earnings ratio of 356.30.

LGN (NASDAQ:LGN) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The firm had revenue of $1.04 billion for the quarter. The firm’s revenue for the quarter was up 105.2% on a year-over-year basis. As a group, research analysts predict that LGN will post 1.24 EPS for the current fiscal year.

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.