LGN (NASDAQ:LGN – Get Free Report)’s stock price traded down 3.9% on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $41.06 and last traded at $42.5070. Approximately 47,665 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 1,369,316 shares. The stock had previously closed at $44.21.
Other analysts also recently issued reports about the stock. Guggenheim reiterated a “buy” rating and issued a $115.00 target price on shares of LGN in a report on Tuesday, August 18th. Roth Capital restated a “buy” rating and set a $120.00 price objective on shares of LGN in a research report on Wednesday, August 12th. Royal Bank Of Canada lowered their price target on shares of LGN from $101.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Barclays dropped their price objective on LGN from $80.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, BMO Capital Markets increased their target price on shares of LGN from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, LGN presently has a consensus rating of “Moderate Buy” and an average price target of $98.75.
View Our Latest Stock Analysis on LGN
Insider Buying and Selling at LGN
In other LGN news, CAO Bris Philippe Le sold 1,058 shares of LGN stock in a transaction on Friday, September 18th. The shares were sold at an average price of $55.01, for a total transaction of $58,200.58. Following the sale, the chief accounting officer owned 4,749 shares in the company, valued at $261,242.49. The trade was a 18.22% 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. Insiders own 0.01% of the company’s stock.
Institutional Trading of LGN
Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its position 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 in the last quarter. Conestoga Capital Advisors LLC acquired a new position in shares of LGN in the 1st quarter valued at $23,479,000. Value Aligned Research Advisors LLC grew its holdings in shares of LGN by 124.6% in 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 period. Renaissance Technologies LLC increased its position in shares of LGN by 87.6% in the 1st quarter. Renaissance Technologies LLC now owns 579,700 shares of the company’s stock valued at $32,730,000 after buying an additional 270,615 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its position in shares of LGN by 349.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 179,842 shares of the company’s stock valued at $10,154,000 after buying an additional 139,842 shares in the last quarter.
LGN Stock Performance
The firm has a market cap of $4.58 billion and a P/E ratio of 106.22. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.35 and a current ratio of 1.35. The stock’s 50-day moving average is $54.87 and its 200 day moving average is $69.27.
LGN (NASDAQ:LGN – Get Free Report) last released 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). LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. The business had revenue of $1.26 billion for the quarter. On average, research analysts predict that LGN will post 1.36 earnings per share for the current year.
About LGN
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.
Further Reading
- Five stocks we like better than LGN
- Wired for Upside: Why Goldman Sachs Upgraded CoreWeave’s Battered Stock
- CarMax’s Double Upgrade Could Signal a Bigger Turnaround
- EHang’s 160% Call Options Surge: What Are Traders Seeing?
- D-Wave Stock Has 2 New Reasons for Investors to Pay Attention
Receive News & Ratings for LGN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGN and related companies with MarketBeat.com's FREE daily email newsletter.
