LGN’s (NASDAQ:LGN) Lock-Up Period Will Expire on March 11th

LGN’s (NASDAQ:LGN) lock-up period will expire on Wednesday, March 11th. LGN had issued 26,000,000 shares in its IPO on September 12th. The total size of the offering was $728,000,000 based on an initial share price of $28.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays upped their price objective on shares of LGN from $37.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Tigress Financial boosted their target price on shares of LGN from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Zacks Research raised LGN from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. The Goldman Sachs Group lifted their price objective on LGN from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, Stifel Nicolaus boosted their price objective on LGN from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LGN has a consensus rating of “Moderate Buy” and an average price target of $53.75.

LGN Price Performance

Shares of NASDAQ LGN opened at $54.07 on Friday. LGN has a 1 year low of $26.96 and a 1 year high of $58.10. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.98.

Hedge Funds Weigh In On LGN

A number of large investors have recently bought and sold shares of the business. Assetmark Inc. acquired a new stake in LGN in the 4th quarter valued at $31,000. Aster Capital Management DIFC Ltd acquired a new position in LGN during the fourth quarter worth $64,000. Clearbridge Investments LLC lifted its holdings in LGN by 0.4% during the fourth quarter. Clearbridge Investments LLC now owns 401,667 shares of the company’s stock valued at $17,288,000 after purchasing an additional 1,667 shares in the last quarter. Symmetry Investments LP lifted its holdings in LGN by 21.9% during the fourth quarter. Symmetry Investments LP now owns 9,750 shares of the company’s stock valued at $420,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of LGN in the fourth quarter valued at about $91,000.

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.