LGN (NASDAQ:LGN) CAO Bris Philippe Le Sells 4,196 Shares

LGN (NASDAQ:LGN) CAO Bris Philippe Le sold 4,196 shares of LGN stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $54.06, for a total transaction of $226,835.76. Following the transaction, the chief accounting officer directly owned 6,148 shares in the company, valued at approximately $332,360.88. This trade represents a 40.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

LGN Price Performance

LGN opened at $54.69 on Friday. LGN has a 52-week low of $28.31 and a 52-week high of $107.24. The company has a 50 day moving average of $61.72 and a two-hundred day moving average of $69.49. The company has a market cap of $5.91 billion and a P/E ratio of 136.72. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN) last posted its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.63). LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. The business had revenue of $1.26 billion for the quarter. On average, analysts expect that LGN will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. KBC Group NV acquired a new stake in LGN in the first quarter worth approximately $66,000. Nykredit A S bought a new stake in shares of LGN in the 2nd quarter worth $128,000. Clearstead Advisors LLC bought a new stake in shares of LGN in the 4th quarter worth $140,000. Avior Wealth Management LLC acquired a new stake in shares of LGN in the second quarter valued at $203,000. Finally, DNB Asset Management AS acquired a new stake in shares of LGN in the fourth quarter valued at $215,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings cut LGN from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 31st. BMO Capital Markets raised their price target on shares of LGN from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Barclays boosted their price objective on shares of LGN from $60.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, June 22nd. Royal Bank Of Canada decreased their target price on LGN from $106.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, July 22nd. Finally, Roth Capital reiterated a “buy” rating and set a $120.00 price target on shares of LGN in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.50.

About LGN

Legence Corporation (NASDAQ:LGN) is an energy-transition and building-solutions company that helps commercial, industrial, institutional and infrastructure customers improve energy efficiency, reduce emissions and manage complex facility requirements. The company delivers integrated services intended to support decarbonization, electrification and broader sustainability initiatives.

Its capabilities include engineering, construction, operation and maintenance of building and energy systems.