Mawer Investment Management Ltd. Makes New $3.67 Million Investment in LGN $LGN

Mawer Investment Management Ltd. bought a new position in LGN (NASDAQ:LGN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 85,338 shares of the company’s stock, valued at approximately $3,673,000. Mawer Investment Management Ltd. owned approximately 0.08% of LGN as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in LGN in the fourth quarter worth about $30,343,000. Seven Grand Managers LLC grew its stake in shares of LGN by 50.0% during the fourth quarter. Seven Grand Managers LLC now owns 600,000 shares of the company’s stock worth $25,824,000 after acquiring an additional 200,000 shares during the last quarter. Royce & Associates LP grew its stake in shares of LGN by 955.5% during the fourth quarter. Royce & Associates LP now owns 337,875 shares of the company’s stock worth $14,542,000 after acquiring an additional 305,865 shares during the last quarter. Clearstead Advisors LLC purchased a new stake in shares of LGN during the fourth quarter worth about $140,000. Finally, Summit Creek Advisors LLC purchased a new stake in shares of LGN during the fourth quarter worth about $10,664,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Loop Capital assumed coverage on LGN in a research note on Wednesday, April 29th. They set a “buy” rating and a $96.00 price target on the stock. Glj Research assumed coverage on LGN in a research note on Tuesday, April 21st. They set a “buy” rating and a $99.00 price target on the stock. Stifel Nicolaus boosted their price target on LGN from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Barclays boosted their price target on LGN from $45.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Finally, BMO Capital Markets boosted their price target on LGN from $63.00 to $100.00 and gave the stock 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 issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.40.

LGN Stock Up 3.4%

Shares of NASDAQ LGN opened at $86.55 on Tuesday. The firm has a 50 day moving average price of $75.00. The stock has a market capitalization of $9.35 billion and a price-to-earnings ratio of 376.30. LGN has a 52 week low of $26.96 and a 52 week high of $107.24. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.06.

LGN (NASDAQ:LGN) last issued its 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. LGN’s revenue was up 105.2% on a year-over-year basis. As a group, research analysts expect that LGN will post 1.24 earnings per share for the current year.

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.