Conestoga Capital Advisors LLC cut its stake in LGN (NASDAQ:LGN – Free Report) by 22.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 391,958 shares of the company’s stock after selling 114,620 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in LGN were worth $21,040,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Reyes Financial Architecture Inc. acquired a new stake in LGN in the 3rd quarter valued at approximately $45,000. KBC Group NV acquired a new stake in LGN during the 1st quarter valued at $66,000. Nykredit A S acquired a new stake in LGN during the second quarter worth approximately $128,000. Avior Wealth Management LLC bought a new stake in LGN in the 2nd quarter valued at $203,000. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of LGN in the second quarter valued at about $237,000.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on LGN shares. Roth Capital restated a “buy” rating and issued a $120.00 price target on shares of LGN in a research report on Wednesday, August 12th. Stifel Nicolaus reduced their price target on LGN from $101.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Zacks Research lowered LGN from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 16th. Tigress Financial raised their price objective 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 downgraded shares of LGN from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, LGN currently has an average rating of “Moderate Buy” and an average target price of $96.67.
Get Our Latest Stock Report on LGN
LGN Trading Down 18.0%
Shares of NASDAQ:LGN opened at $32.13 on Thursday. 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 1 year low of $30.79 and a 1 year high of $107.24. The business has a fifty day moving average price of $49.16 and a two-hundred day moving average price of $62.81.
LGN (NASDAQ:LGN – Get Free Report) last released 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 negative net margin of 1.20% and a positive return on equity of 4.33%. The company had revenue of $1.26 billion for the quarter. Sell-side analysts anticipate that LGN will post 1.36 EPS for the current year.
Insiders Place Their Bets
In related news, CAO Bris Philippe Le sold 1,058 shares of the business’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $55.01, for a total value of $58,200.58. Following the sale, the chief accounting officer directly owned 4,749 shares in the company, valued at approximately $261,242.49. The trade was a 18.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.01% of the company’s stock.
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.
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