ProShare Advisors LLC Invests $292,000 in LGN $LGN

ProShare Advisors LLC acquired a new position in LGN (NASDAQ:LGN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 6,773 shares of the company’s stock, valued at approximately $292,000.

A number of other hedge funds have also recently made changes to their positions in the business. Assetmark Inc. bought a new position in shares of LGN in the fourth quarter worth about $31,000. Comerica Bank bought a new position in shares of LGN in the fourth quarter worth about $192,000. DNB Asset Management AS bought a new position in shares of LGN in the fourth quarter worth about $215,000. Truist Financial Corp bought a new position in LGN during the fourth quarter valued at approximately $276,000. Finally, Oppenheimer Asset Management Inc. bought a new position in LGN during the fourth quarter valued at approximately $297,000.

LGN Stock Performance

Shares of LGN stock opened at $83.74 on Monday. The company’s 50 day moving average price is $74.30. LGN has a 12 month low of $26.96 and a 12 month high of $107.24. The company has a market capitalization of $9.05 billion and a price-to-earnings ratio of 364.09. 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 (NASDAQ:LGN) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $1.04 billion during the quarter. The business’s quarterly revenue was up 105.2% compared to the same quarter last year. As a group, equities research analysts forecast that LGN will post 1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BTIG Research increased their price target on LGN from $75.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Royal Bank Of Canada increased their price target on LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. BMO Capital Markets increased their price target on LGN from $63.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. The Goldman Sachs Group increased their price target on LGN from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Stifel Nicolaus increased their price target on LGN from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. One equities 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.