LGN (NASDAQ:LGN) Stock Gets Price Target Trim from Royal Bank Of Canada

LGN (NASDAQ:LGN) had its target price decreased by Royal Bank Of Canada from $101.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

LGN has been the topic of several other reports. BTIG Research restated a “buy” rating and set a $100.00 target price (down from $120.00) on shares of LGN in a report on Friday, August 14th. BMO Capital Markets upped their price objective on shares of LGN from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Stifel Nicolaus lowered their price objective on LGN from $101.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Guggenheim restated a “buy” rating and issued a $115.00 price objective on shares of LGN in a research report on Tuesday, August 18th. Finally, Zacks Research upgraded LGN from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, LGN presently has an average rating of “Moderate Buy” and a consensus target price of $100.42.

LGN Stock Performance

Shares of NASDAQ LGN opened at $43.53 on Thursday. The stock has a fifty day moving average price of $55.27 and a two-hundred day moving average price of $69.25. LGN has a 1 year low of $31.26 and a 1 year high of $107.24. The firm has a market cap of $4.70 billion and a P/E ratio of 108.83. 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 (NASDAQ:LGN) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share (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 company had revenue of $1.26 billion during the quarter. Research analysts forecast that LGN will post 1.36 EPS for the current fiscal year.

Insider Activity

In other LGN news, CAO Bris Philippe Le sold 1,058 shares of the business’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $55.01, for a total transaction of $58,200.58. Following the sale, the chief accounting officer directly owned 4,749 shares of the company’s stock, valued at $261,242.49. The trade was a 18.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.01% of the stock is owned by company insiders.

Institutional Trading of LGN

A number of hedge funds and other institutional investors have recently modified their holdings of LGN. Vontobel Holding Ltd. acquired a new position in LGN during the third quarter valued at approximately $1,035,000. State of Alaska Department of Revenue bought a new stake in LGN during the third quarter worth $204,000. Wedmont Private Capital bought a new stake in LGN during the third quarter worth $245,000. WINTON GROUP Ltd raised its position in LGN by 174.0% during the second quarter. WINTON GROUP Ltd now owns 83,300 shares of the company’s stock worth $7,100,000 after acquiring an additional 52,904 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in LGN in the second quarter valued at $1,073,000.

About LGN

Legence Corp. (NASDAQ: LGN) is an energy-transition and building-solutions company that helps commercial, industrial and institutional customers improve the performance, efficiency and sustainability of their facilities and infrastructure. Its work is focused on reducing energy consumption and emissions while supporting the development, modernization and operation of complex buildings and facilities.

The company provides services that may include engineering, design, construction, building automation and controls, heating, ventilation and air-conditioning systems, electrical services, energy management, renewable-energy solutions, maintenance and facility optimization.