Pictet Asset Management Holding SA Grows Position in LGN $LGN

Pictet Asset Management Holding SA raised its stake in LGN (NASDAQ:LGN) by 349.6% in the first quarter, HoldingsChannel.com reports. The fund owned 179,842 shares of the company’s stock after purchasing an additional 139,842 shares during the quarter. Pictet Asset Management Holding SA’s holdings in LGN were worth $10,154,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assetmark Inc. acquired a new stake in shares of LGN during the fourth quarter valued at $31,000. Aster Capital Management DIFC Ltd acquired a new position in LGN in the 4th quarter valued at about $64,000. Kestra Advisory Services LLC purchased a new position in LGN in the 4th quarter valued at about $91,000. Clearstead Advisors LLC purchased a new position in LGN in the 4th quarter valued at about $140,000. Finally, Comerica Bank acquired a new stake in shares of LGN during the 4th quarter worth about $192,000.

LGN Stock Performance

Shares of NASDAQ:LGN opened at $75.83 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06. The firm has a market cap of $8.19 billion and a price-to-earnings ratio of 329.70. The stock has a 50-day simple moving average of $85.68. LGN has a 12-month low of $26.96 and a 12-month high of $107.24.

LGN (NASDAQ:LGN) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $1.04 billion for the quarter. The company’s revenue for the quarter was up 105.2% compared to the same quarter last year. As a group, research analysts forecast that LGN will post 1.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LGN shares. Tigress Financial lifted their price target on shares of LGN from $85.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Loop Capital initiated coverage on shares of LGN in a research note on Wednesday, April 29th. They set a “buy” rating and a $96.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of LGN from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Zacks Research cut shares of LGN from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Glj Research assumed coverage on LGN in a report on Tuesday, April 21st. They issued a “buy” rating and a $99.00 price target for the company. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, LGN currently has a consensus rating of “Moderate Buy” and an average price target of $88.40.

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.