Key Points
- LGN Chief Accounting Officer Bris Philippe Le sold 4,196 shares at an average price of $54.06, generating $226,835.76. The sale was made to cover tax withholding on vested equity awards, reducing his direct holdings by 40.56% to 6,148 shares.
- LGN shares opened at $54.69, below their 50-day and 200-day moving averages of $61.72 and $69.49, respectively. The stock has a market capitalization of $5.91 billion and trades at a price-to-earnings ratio of 136.72.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $99.50, despite LGN reporting a quarterly loss of $0.37 per share that missed expectations by $0.63.
LGN (NASDAQ:LGN - Get Free Report) CAO Bris Philippe Le sold 4,196 shares of LGN stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $54.06, for a total transaction of $226,835.76. Following the completion of the transaction, the chief accounting officer directly owned 6,148 shares in the company, valued at $332,360.88. This represents a 40.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
LGN Price Performance
Shares of NASDAQ:LGN opened at $54.69 on Friday. The stock has a fifty day moving average of $61.72 and a 200-day moving average of $69.49. The company has a market capitalization of $5.91 billion and a PE ratio of 136.72. LGN has a one year low of $28.31 and a one year high of $107.24. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.26 billion for the quarter. As a group, equities analysts anticipate that LGN will post 1.36 EPS for the current fiscal year.
Institutional Trading of LGN
Several large investors have recently made changes to their positions in the stock. WINTON GROUP Ltd increased its holdings in shares of LGN by 174.0% during the 2nd quarter. WINTON GROUP Ltd now owns 83,300 shares of the company's stock valued at $7,100,000 after acquiring an additional 52,904 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in LGN in the 2nd quarter worth approximately $1,073,000. Arizona State Retirement System boosted its position in LGN by 34.1% during the second quarter. Arizona State Retirement System now owns 14,847 shares of the company's stock worth $1,265,000 after purchasing an additional 3,774 shares during the period. Nykredit A S bought a new stake in LGN during the second quarter worth approximately $128,000. Finally, Allianz Asset Management GmbH acquired a new position in LGN during the second quarter valued at approximately $1,568,000.
Analysts Set New Price Targets
LGN has been the topic of several research analyst reports. Bank of America boosted their price target on shares of LGN from $105.00 to $116.00 and gave the company a "buy" rating in a report on Friday, August 14th. Barclays increased their price objective on LGN from $60.00 to $80.00 and gave the stock an "equal weight" rating in a report on Monday, June 22nd. BTIG Research reiterated a "buy" rating and issued a $100.00 target price (down from $120.00) on shares of LGN in a research note on Friday, August 14th. Tigress Financial boosted their target price on shares of LGN from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Finally, Weiss Ratings lowered shares of LGN from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 31st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $99.50.
Read Our Latest Report on LGN
LGN Company Profile
(
Get Free Report)
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.
Further Reading
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