LGN $LGN Holdings Increased by Bank of America Corp DE

Key Points

• Bank of America increased its LGN stake by 161.4% in the first quarter, holding 680,217 shares worth approximately $38.4 million, or 0.63% of the company. Several other institutional investors also increased or initiated positions.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $98.91; recent targets range from $72 to $120.
• Legence reported record second-quarter revenue of $1.26 billion and raised its 2026 guidance, but posted a $27.8 million GAAP net loss and declining gross margins, highlighting profitability and integration risks.

Bank of America Corp DE lifted its stake in LGN (NASDAQ:LGN - Free Report) by 161.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 680,217 shares of the company's stock after acquiring an additional 419,997 shares during the period. Bank of America Corp DE owned 0.63% of LGN worth $38,405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LGN. Value Aligned Research Advisors LLC boosted its position in shares of LGN by 22.4% in the 1st quarter. Value Aligned Research Advisors LLC now owns 308,141 shares of the company's stock valued at $17,398,000 after purchasing an additional 56,460 shares during the period. Pictet Asset Management Holding SA purchased a new position in LGN in the 4th quarter worth about $1,722,000. Renaissance Technologies LLC raised its holdings in LGN by 87.6% during the 1st quarter. Renaissance Technologies LLC now owns 579,700 shares of the company's stock worth $32,730,000 after buying an additional 270,615 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in LGN during the 4th quarter worth about $3,179,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in LGN by 65.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 176,251 shares of the company's stock valued at $9,951,000 after buying an additional 69,914 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LGN shares. The Goldman Sachs Group lifted their price target on LGN from $63.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, April 16th. BMO Capital Markets increased their price objective on LGN from $63.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. Barclays raised their price objective on LGN from $60.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Monday, June 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of LGN in a research note on Friday, June 26th. Finally, Roth Capital reiterated a "buy" rating and issued a $120.00 target price on shares of LGN in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $98.91.

More LGN News

Here are the key news stories impacting LGN this week:

• Positive Sentiment: Legence reported record second-quarter revenue of $1.26 billion, up 111% year over year and above analyst expectations. Organic revenue growth excluding the Bowers acquisition was approximately 60%, indicating that much of the expansion was not solely acquisition-driven. Legence Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Non-GAAP adjusted EBITDA more than doubled to $154.6 million, while backlog and awarded contracts reached a record $5.67 billion, up 105% year over year. The 1.2x book-to-bill ratio provides additional visibility into future revenue. Legence Corp. 2026 Q2 Results Earnings Call Presentation
• Positive Sentiment: Management raised full-year 2026 revenue guidance to $4.7 billion-$4.8 billion from $4.1 billion-$4.3 billion and adjusted EBITDA guidance to $565 million-$585 million. Third-quarter revenue guidance of $1.225 billion-$1.275 billion also exceeds the reported consensus estimate. Legence Q2 Earnings Snapshot
• Neutral Sentiment: Growth was concentrated in Installation & Maintenance, particularly data-center and technology projects. The Bowers acquisition contributed roughly $303.8 million of quarterly revenue, making acquisition integration and execution important factors for investors to monitor. Legence Q2 2026 Earnings Call Transcript
• Negative Sentiment: Legence reported a GAAP net loss attributable to the company of $27.8 million, or ($0.37) per share, versus analyst expectations for a $0.26 profit. The broader net loss was $34.6 million, compared with $3.9 million a year earlier.
• Negative Sentiment: Gross margin fell to 17.4% from 21.5%, and adjusted gross margin declined to 18.5% from 21.8%, reflecting an unfavorable mix shift and higher fulfillment costs. Goodwill and long-lived asset impairments also contributed to the quarterly loss. Legence Earnings Report

LGN Stock Performance

LGN opened at $63.24 on Friday. The company has a market cap of $6.83 billion and a PE ratio of 274.96. The stock has a 50-day moving average of $74.12 and a 200-day moving average of $68.42. LGN has a 52-week low of $26.96 and a 52-week high of $107.24. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.30 and a current ratio of 1.30.

LGN (NASDAQ:LGN - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.63). The business had revenue of $1.26 billion during the quarter. As a group, equities research analysts forecast that LGN will post 1.24 earnings per share for the current fiscal year.

LGN Company Profile

Legence Corp. is a provider of engineering, consulting, installation and maintenance services for mission-critical systems in buildings. The company specializes in designing, fabricating and installing complex HVAC, process piping and other mechanical, electrical and plumbing systems. Legence Corp. is based in SAN JOSE, Calif.

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