LGN (NASDAQ:LGN) CAO Sells 4,196 Shares of Stock

Key Points

• LGN’s chief accounting officer sold 4,196 shares at an average price of $54.06, totaling $226,835.76. The sale covered tax-withholding obligations from vested equity awards and reduced the executive’s direct ownership by 40.56%.
• LGN shares rose 1.6% to $54.69, but the company’s latest quarterly results missed expectations, reporting a loss of $0.37 per share versus the consensus estimate of $0.26 in earnings.
• Analysts maintain a generally positive outlook, with LGN holding a “Moderate Buy” consensus rating and an average price target of $99.50, substantially above its recent trading price.

LGN (NASDAQ:LGN - Get Free Report) CAO Bris Philippe Le sold 4,196 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $54.06, for a total value of $226,835.76. Following the transaction, the chief accounting officer directly owned 6,148 shares in the company, valued at approximately $332,360.88. This trade represents a 40.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

LGN Trading Up 1.6%

LGN stock traded up $0.85 during mid-day trading on Thursday, reaching $54.69. The stock had a trading volume of 1,107,993 shares, compared to its average volume of 805,523. 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 has a fifty-two week low of $28.31 and a fifty-two week high of $107.24. The stock's 50-day simple moving average is $61.72 and its 200-day simple moving average is $69.49.

LGN (NASDAQ:LGN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.37) EPS 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 firm had revenue of $1.26 billion for the quarter. Equities research analysts forecast that LGN will post 1.36 EPS for the current year.

Institutional Investors Weigh In On LGN

Several institutional investors have recently bought and sold shares of LGN. WINTON GROUP Ltd raised its position in LGN by 174.0% in the 2nd quarter. WINTON GROUP Ltd now owns 83,300 shares of the company's stock valued at $7,100,000 after buying an additional 52,904 shares during the last quarter. NewEdge Advisors LLC purchased a new position in LGN during the 2nd quarter worth $1,073,000. Arizona State Retirement System boosted its holdings in LGN by 34.1% during the 2nd quarter. Arizona State Retirement System now owns 14,847 shares of the company's stock worth $1,265,000 after acquiring an additional 3,774 shares during the last quarter. Nykredit A S bought a new stake in shares of LGN in the 2nd quarter worth $128,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of LGN in the 2nd quarter worth $1,568,000.

Wall Street Analyst Weigh In

LGN has been the topic of several research reports. Tigress Financial upped their price objective on shares of LGN from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Barclays lifted their price objective on shares of LGN from $60.00 to $80.00 and gave the company an "equal weight" rating in a report on Monday, June 22nd. Bank of America boosted their target price on shares of LGN from $105.00 to $116.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Royal Bank Of Canada lowered their target price on shares of LGN from $106.00 to $101.00 and set an "outperform" rating on the stock in a report on Wednesday, July 22nd. Finally, Roth Capital restated a "buy" rating and issued a $120.00 target price on shares of LGN in a report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, LGN presently has an average rating of "Moderate Buy" and a consensus target price of $99.50.

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.

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