Next Century Growth Investors LLC Purchases 83,996 Shares of LGN $LGN

Next Century Growth Investors LLC raised its position in LGN (NASDAQ:LGN) by 53.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 242,045 shares of the company’s stock after purchasing an additional 83,996 shares during the period. Next Century Growth Investors LLC owned approximately 0.23% of LGN worth $10,418,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Assetmark Inc. bought a new stake in LGN in the fourth quarter valued at approximately $31,000. Clearbridge Investments LLC increased its stake in LGN by 0.4% in the fourth quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock valued at $17,288,000 after purchasing an additional 1,667 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in LGN in the fourth quarter valued at approximately $91,000. Clearstead Advisors LLC bought a new stake in LGN in the fourth quarter valued at approximately $140,000. Finally, Comerica Bank bought a new stake in LGN in the fourth quarter valued at approximately $192,000.

LGN Stock Up 1.0%

Shares of LGN stock opened at $86.00 on Friday. The stock’s fifty day moving average is $80.62. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.30 and a quick ratio of 1.30. LGN has a 12-month low of $26.96 and a 12-month high of $107.24. The company has a market capitalization of $9.29 billion and a P/E ratio of 373.91.

LGN (NASDAQ:LGN) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.13 earnings per share (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 company’s quarterly revenue was up 105.2% compared to the same quarter last year. On average, equities analysts expect that LGN will post 1.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LGN. Tigress Financial upped their target price on shares of LGN from $85.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Glj Research began coverage on shares of LGN in a research note on Tuesday, April 21st. They issued a “buy” rating and a $99.00 target price for the company. Royal Bank Of Canada upped their target price on shares of LGN from $48.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Loop Capital began coverage on shares of LGN in a research note on Wednesday, April 29th. They issued a “buy” rating and a $96.00 target price for the company. Finally, Guggenheim upped their target price on shares of LGN from $53.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. One 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.