Insider Selling: LGN (NASDAQ:LGN) CAO Sells 1,058 Shares of Stock

Key Points

• LGN Chief Accounting Officer Bris Philippe Le sold 1,058 shares at an average price of $55.01, generating $58,200.58. The sale reduced his direct ownership by 18.22% to 4,749 shares, following another sale of 4,196 shares earlier in the week.
• LGN shares traded at $54.25, well below their 50-day average of $61.09 and 200-day average of $69.49. The stock has a market capitalization of $5.86 billion and a price-to-earnings ratio of 135.62.
• Analysts maintain a broadly positive view, with a consensus rating of “Moderate Buy” and an average price target of $99.50. However, the company recently missed quarterly earnings expectations, reporting a loss of $0.37 per share versus the expected $0.26 profit.

LGN (NASDAQ:LGN - Get Free Report) CAO Bris Philippe Le sold 1,058 shares of LGN 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. This trade represents a 18.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bris Philippe Le also recently made the following trade(s):

• On Tuesday, September 15th, Bris Philippe Le sold 4,196 shares of LGN stock. The stock was sold at an average price of $54.06, for a total transaction of $226,835.76.

LGN Price Performance

Shares of LGN stock traded down $0.34 during trading hours on Tuesday, hitting $54.25. 754,932 shares of the company's stock were exchanged, compared to its average volume of 1,395,391. The stock's 50-day moving average is $61.09 and its 200-day moving average is $69.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.35 and a quick ratio of 1.35. LGN has a 52 week low of $29.00 and a 52 week high of $107.24. The stock has a market cap of $5.86 billion and a price-to-earnings ratio of 135.62.

LGN (NASDAQ:LGN - Get Free Report) 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 company had revenue of $1.26 billion during the quarter. As a group, research analysts forecast that LGN will post 1.36 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on LGN. Barclays boosted their target price on LGN from $60.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Monday, June 22nd. Roth Capital reiterated a "buy" rating and set a $120.00 price objective on shares of LGN in a report on Wednesday, August 12th. Weiss Ratings cut LGN from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 31st. Tigress Financial raised their target price on shares of LGN from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $115.00 price target on shares of LGN in a research note on Tuesday, August 18th. 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LGN. KBC Group NV acquired a new position in LGN during the 1st quarter worth approximately $66,000. Nykredit A S acquired a new stake in shares of LGN in the second quarter valued at approximately $128,000. Clearstead Advisors LLC acquired a new position in shares of LGN during the 4th quarter worth about $140,000. Avior Wealth Management LLC bought a new position in shares of LGN in the 2nd quarter valued at about $203,000. Finally, Sanctuary Advisors LLC bought a new position in shares of LGN in the 1st quarter valued at about $228,000.

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.

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