Vontobel Holding Ltd. Makes New $1.03 Million Investment in LGN $LGN

Vontobel Holding Ltd. purchased a new stake in shares of LGN (NASDAQ:LGN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 19,278 shares of the company’s stock, valued at approximately $1,035,000.

Other large investors have also added to or reduced their stakes in the company. Value Aligned Research Advisors LLC increased its position in shares of LGN by 124.6% in the second quarter. Value Aligned Research Advisors LLC now owns 692,150 shares of the company’s stock valued at $58,992,000 after acquiring an additional 384,009 shares during the period. Bank of America Corp DE boosted its holdings in shares of LGN by 161.4% during the first quarter. Bank of America Corp DE now owns 680,217 shares of the company’s stock worth $38,405,000 after purchasing an additional 419,997 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of LGN by 87.6% during the first quarter. Renaissance Technologies LLC now owns 579,700 shares of the company’s stock worth $32,730,000 after purchasing an additional 270,615 shares during the period. Conestoga Capital Advisors LLC bought a new stake in shares of LGN in the first quarter worth about $23,479,000. Finally, Pictet Asset Management Holding SA grew its stake in shares of LGN by 349.6% in the first quarter. Pictet Asset Management Holding SA now owns 179,842 shares of the company’s stock worth $10,154,000 after purchasing an additional 139,842 shares during the last quarter.

LGN Stock Up 1.6%

Shares of NASDAQ LGN opened at $44.21 on Tuesday. 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 has a 12 month low of $31.26 and a 12 month high of $107.24. The firm has a fifty day simple moving average of $54.87 and a two-hundred day simple moving average of $69.27.

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). 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 during the quarter. Equities research analysts expect that LGN will post 1.36 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LGN shares. Guggenheim restated a “buy” rating and set a $115.00 price target on shares of LGN in a report on Tuesday, August 18th. Stifel Nicolaus dropped their price objective on LGN from $101.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Roth Capital reiterated a “buy” rating and issued a $120.00 price objective on shares of LGN in a report on Wednesday, August 12th. BTIG Research reiterated a “buy” rating and issued a $100.00 price objective (down from $120.00) on shares of LGN in a research report on Friday, August 14th. Finally, BMO Capital Markets lifted their price objective on LGN from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.75.

Insider Transactions at LGN

In related news, CAO Bris Philippe Le sold 4,196 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $54.06, for a total value of $226,835.76. Following the completion of the transaction, the chief accounting officer directly owned 6,148 shares of the company’s stock, valued at $332,360.88. This 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 available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.01% of the stock is currently owned by insiders.

LGN Company Profile

Legence Corp. (NASDAQ: LGN) is an energy-transition solutions provider that helps commercial, industrial and institutional customers improve building performance, reduce energy use and advance decarbonization goals. The company combines technical expertise, project delivery and operational services to address the energy and sustainability needs of complex facilities and infrastructure.

Its services include engineering and design, energy-efficiency improvements, building systems and infrastructure work, renewable-energy and electrification projects, sustainability consulting, and ongoing operations and maintenance.