LGN (NASDAQ:LGN) CAO Bris Philippe Le Sells 1,058 Shares

LGN (NASDAQ:LGN) CAO Bris Philippe Le sold 1,058 shares of the company’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $55.01, for a total transaction of $58,200.58. Following the transaction, the chief accounting officer directly owned 4,749 shares of the company’s stock, valued at approximately $261,242.49. This represents a 18.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Bris Philippe Le also recently made the following trade(s):

• On Tuesday, September 15th, Bris Philippe Le sold 4,196 shares of LGN stock. The stock was sold at an average price of $54.06, for a total transaction of $226,835.76.

LGN Price Performance

LGN stock opened at $54.25 on Wednesday. LGN has a 1 year low of $29.00 and a 1 year high of $107.24. The firm has a 50 day moving average price of $60.78 and a 200 day moving average price of $69.49. The company has a market cap of $5.86 billion and a price-to-earnings ratio of 135.62. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.35 and a current ratio of 1.35.

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

Analyst Ratings Changes

LGN has been the subject of several research analyst reports. Bank of America upped their price target on LGN from $105.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Weiss Ratings downgraded shares of LGN from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 31st. BMO Capital Markets lifted their price target on shares of LGN from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Tigress Financial boosted their price objective on shares of LGN from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Finally, Guggenheim reissued a “buy” rating and issued a $115.00 price objective on shares of LGN in a research report on Tuesday, August 18th. Two 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.50.

Institutional Investors Weigh In On LGN

Hedge funds have recently modified their holdings of the stock. KBC Group NV purchased a new position in LGN in the 1st quarter worth approximately $66,000. Nykredit A S acquired a new position in shares of LGN during the second quarter worth $128,000. Clearbridge Investments LLC boosted its stake in shares of 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 during the period. Avior Wealth Management LLC purchased a new position in shares of LGN in the second quarter valued at $203,000. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of LGN in the second quarter valued at $237,000.

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.