PNC Financial Services Group Inc. Purchases 11,852 Shares of LGN $LGN

PNC Financial Services Group Inc. lifted its position in shares of LGN (NASDAQ:LGN) by 666.2% during the 4th quarter, HoldingsChannel reports. The firm owned 13,631 shares of the company’s stock after acquiring an additional 11,852 shares during the period. PNC Financial Services Group Inc.’s holdings in LGN were worth $587,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC bought a new stake in shares of LGN during the fourth quarter valued at approximately $292,000. Hiddenite Capital Partners LP bought a new stake in shares of LGN during the fourth quarter valued at approximately $6,569,000. DNB Asset Management AS bought a new stake in shares of LGN during the fourth quarter valued at approximately $215,000. Truist Financial Corp bought a new stake in shares of LGN during the fourth quarter valued at approximately $276,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of LGN during the fourth quarter valued at approximately $297,000.

LGN Price Performance

LGN stock opened at $83.74 on Monday. LGN has a 1-year low of $26.96 and a 1-year high of $107.24. The business has a fifty day simple moving average of $74.30. 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 market capitalization of $9.05 billion and a PE ratio of 364.09.

LGN (NASDAQ:LGN) last posted its quarterly 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 firm had revenue of $1.04 billion during the quarter. The firm’s revenue was up 105.2% on a year-over-year basis. As a group, analysts anticipate that LGN will post 1.24 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on LGN. Barclays lifted their price target on LGN from $45.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 19th. The Goldman Sachs Group lifted their price target on LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Guggenheim lifted their price target on LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Glj Research began coverage on LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 price objective for the company. Finally, BMO Capital Markets lifted their price objective on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $86.40.

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.