LGN (NASDAQ:LGN) Stock Falls 13% – Should You Sell?

Shares of LGN (NASDAQ:LGN) dropped 13% during trading on Wednesday. The company traded as low as $33.46 and last traded at $34.0720. Approximately 185,832 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,382,387 shares. The stock had previously closed at $39.16.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank Of Canada dropped their price target on LGN from $101.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Roth Capital restated a “buy” rating and set a $120.00 price objective on shares of LGN in a research report on Wednesday, August 12th. Guggenheim restated a “buy” rating and set a $90.00 price objective on shares of LGN in a research note on Monday, October 26th. BTIG Research reiterated a “buy” rating and issued a $100.00 target price (down from $120.00) on shares of LGN in a research note on Friday, August 14th. Finally, Bank of America boosted their price target on shares of LGN from $105.00 to $116.00 and gave the company a “buy” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.67.

LGN Price Performance

The company has a 50 day moving average of $49.66 and a two-hundred day moving average of $62.89. The firm has a market cap of $3.45 billion, a P/E ratio of 79.91 and a beta of 3.42. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.03.

LGN (NASDAQ:LGN) last issued 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). LGN had a positive return on equity of 4.33% and a negative net margin of 1.20%. The business had revenue of $1.26 billion during the quarter. Sell-side analysts expect that LGN will post 1.36 EPS for the current year.

Insider Activity at LGN

In related news, CAO Bris Philippe Le sold 1,058 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The shares were 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 $261,242.49. The trade was a 18.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LGN. Bank of America Corp DE increased its holdings in shares of LGN by 161.4% in the first quarter. Bank of America Corp DE now owns 680,217 shares of the company’s stock valued at $38,405,000 after buying an additional 419,997 shares in the last quarter. Value Aligned Research Advisors LLC boosted its stake in shares of LGN by 124.6% during the 2nd quarter. Value Aligned Research Advisors LLC now owns 692,150 shares of the company’s stock worth $58,992,000 after acquiring an additional 384,009 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of LGN by 87.6% in the 1st quarter. Renaissance Technologies LLC now owns 579,700 shares of the company’s stock worth $32,730,000 after acquiring an additional 270,615 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of LGN by 35.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 808,113 shares of the company’s stock worth $41,755,000 after acquiring an additional 211,829 shares during the last quarter. Finally, Hiddenite Capital Partners LP acquired a new stake in shares of LGN during the third quarter worth $9,394,000.

LGN Company Profile

Legence Corp. (NASDAQ: LGN) is an energy-transition solutions provider that helps commercial, industrial and institutional customers improve building performance, reduce energy use and advance decarbonization goals. The company combines technical expertise, project delivery and operational services to address the energy and sustainability needs of complex facilities and infrastructure.

Its services include engineering and design, energy-efficiency improvements, building systems and infrastructure work, renewable-energy and electrification projects, sustainability consulting, and ongoing operations and maintenance.