Brokerages Set LGN (NASDAQ:LGN) PT at $99.50

LGN (NASDAQ:LGN) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $99.50.

LGN has been the topic of a number of recent analyst reports. Weiss Ratings lowered LGN from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 31st. BMO Capital Markets raised their target price on LGN from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Royal Bank Of Canada cut their price target on LGN from $106.00 to $101.00 and set an “outperform” rating for the company in a report on Wednesday, July 22nd. Barclays upped their price target on shares of LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, June 22nd. Finally, BTIG Research reissued a “buy” rating and set a $100.00 price objective (down from $120.00) on shares of LGN in a report on Friday, August 14th.

LGN Trading Up 1.5%

Shares of LGN stock opened at $53.84 on Thursday. The company has a market capitalization of $5.82 billion and a P/E ratio of 134.60. LGN has a 12-month low of $28.31 and a 12-month high of $107.24. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average price of $62.11 and a 200 day moving average price of $69.52.

LGN (NASDAQ:LGN) last issued its quarterly earnings data 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). The firm 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%. Research analysts forecast that LGN will post 1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd boosted its position in LGN by 174.0% in the 2nd quarter. WINTON GROUP Ltd now owns 83,300 shares of the company’s stock valued at $7,100,000 after buying an additional 52,904 shares during the last quarter. NewEdge Advisors LLC bought a new stake in shares of LGN during the second quarter worth $1,073,000. Arizona State Retirement System lifted its stake in shares of LGN by 34.1% during the second quarter. Arizona State Retirement System now owns 14,847 shares of the company’s stock valued at $1,265,000 after acquiring an additional 3,774 shares during the period. Nykredit A S bought a new position in LGN in the second quarter valued at about $128,000. Finally, Allianz Asset Management GmbH bought a new position in LGN in the second quarter valued at about $1,568,000.

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.