Insider Selling: LGN (NASDAQ:LGN) CAO Sells 4,196 Shares

LGN (NASDAQ:LGN) CAO Bris Philippe Le sold 4,196 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 6,148 shares of the company’s stock, valued at $332,360.88. The trade was a 40.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

LGN Trading Up 1.6%

NASDAQ:LGN traded up $0.85 on Thursday, hitting $54.69. The stock had a trading volume of 1,107,993 shares, compared to its average volume of 805,523. LGN has a 1 year low of $28.31 and a 1 year high of $107.24. The firm’s fifty day simple moving average is $61.72 and its two-hundred day simple moving average is $69.49. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN) last announced its 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 business had revenue of $1.26 billion during the quarter. Research analysts forecast that LGN will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LGN shares. BTIG Research reiterated a “buy” rating and set a $100.00 price target (down from $120.00) on shares of LGN in a report on Friday, August 14th. Weiss Ratings downgraded LGN from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 31st. Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Roth Capital reiterated a “buy” rating and set a $120.00 target price on shares of LGN in a research note on Wednesday, August 12th. Finally, Barclays boosted their price target on shares of LGN from $60.00 to $80.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Two equities research 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 data from MarketBeat.com, LGN currently has an average rating of “Moderate Buy” and a consensus target price of $99.50.

Hedge Funds Weigh In On LGN

Several institutional investors have recently bought and sold shares of the company. Westfield Capital Management Co. LP purchased a new stake in LGN in the fourth quarter worth $69,438,000. Munro Partners lifted its position in shares of 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 buying an additional 1,325,957 shares during the last quarter. Value Aligned Research Advisors LLC lifted its position in shares of LGN by 124.6% during the 2nd quarter. Value Aligned Research Advisors LLC now owns 692,150 shares of the company’s stock valued at $58,992,000 after buying an additional 384,009 shares during the last quarter. Bank of America Corp DE lifted its holdings in LGN by 161.4% during the first quarter. Bank of America Corp DE now owns 680,217 shares of the company’s stock valued at $38,405,000 after purchasing an additional 419,997 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in LGN by 87.6% during the first quarter. Renaissance Technologies LLC now owns 579,700 shares of the company’s stock valued at $32,730,000 after purchasing an additional 270,615 shares during the last quarter.

LGN Company Profile

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.