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

LGN (NASDAQ:LGN) CAO Bris Philippe Le sold 4,196 shares of the business’s stock in a transaction 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 owned 6,148 shares of the company’s stock, valued at $332,360.88. This trade represents a 40.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

LGN Trading Up 2.0%

LGN stock opened at $55.80 on Friday. The stock has a market cap of $6.03 billion and a P/E ratio of 139.50. LGN has a fifty-two week low of $29.00 and a fifty-two week high of $107.24. The firm’s fifty day moving average price is $61.36 and its 200-day moving average price is $69.40. 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 earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.63). The business had revenue of $1.26 billion for the quarter. LGN had a positive return on equity of 4.33% and a negative net margin of 1.20%. Equities research analysts forecast that LGN will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LGN

A number of large investors have recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP purchased a new stake in shares of LGN during the fourth quarter worth about $69,438,000. Munro Partners increased its holdings in LGN by 1,875.9% during the 4th quarter. Munro Partners now owns 1,396,642 shares of the company’s stock valued at $60,111,000 after purchasing an additional 1,325,957 shares during the period. Norges Bank bought a new position in LGN during the 4th quarter valued at approximately $30,343,000. Engle Capital Management L.P. purchased a new stake in LGN in the 4th quarter worth approximately $24,059,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in LGN by 285.7% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 675,000 shares of the company’s stock worth $29,052,000 after buying an additional 500,000 shares during the period.

Analyst Ratings Changes

LGN has been the topic of several research analyst reports. Roth Capital restated a “buy” rating and issued a $120.00 price objective on shares of LGN in a research report on Wednesday, August 12th. Barclays lifted their target price 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. Guggenheim reissued a “buy” rating and issued a $115.00 price target on shares of LGN in a research note on Tuesday, August 18th. Bank of America increased their price target on shares of LGN from $105.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, BTIG Research restated a “buy” rating and set a $100.00 price objective (down from $120.00) on shares of LGN in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.