LGN (NASDAQ:LGN) Trading 4.5% Higher – Should You Buy?

Shares of LGN (NASDAQ:LGN) shot up 4.5% during trading on Wednesday . The stock traded as high as $55.70 and last traded at $55.4410. 46,655 shares were traded during trading, a decline of 97% from the average daily volume of 1,399,181 shares. The stock had previously closed at $53.03.

Analyst Upgrades and Downgrades

LGN has been the subject of a number of research analyst reports. Bank of America lifted their price target on LGN from $105.00 to $116.00 and gave the company a “buy” rating in a report on Friday, August 14th. Roth Capital reissued a “buy” rating and set a $120.00 price objective on shares of LGN in a report on Wednesday, August 12th. Royal Bank Of Canada lowered their price objective on shares of LGN from $106.00 to $101.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Tigress Financial upped their target price on shares of LGN from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Finally, BMO Capital Markets increased their price target on shares of LGN from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.50.

LGN Stock Up 4.3%

The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.35 and a current ratio of 1.35. The firm’s fifty day simple moving average is $62.47 and its 200 day simple moving average is $69.54. The stock has a market capitalization of $5.98 billion and a price-to-earnings ratio of 138.70.

LGN (NASDAQ:LGN) last announced its 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 for the quarter. On average, sell-side analysts forecast that LGN will post 1.36 earnings per share for the current year.

Institutional Trading of LGN

Institutional investors and hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd boosted its position in LGN by 174.0% during the second quarter. WINTON GROUP Ltd now owns 83,300 shares of the company’s stock valued at $7,100,000 after purchasing an additional 52,904 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of LGN during the 2nd quarter worth approximately $1,073,000. Arizona State Retirement System raised its stake in shares of 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 purchasing an additional 3,774 shares in the last quarter. Nykredit A S bought a new stake in shares of LGN during the 2nd quarter worth approximately $128,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of LGN in the 2nd quarter valued at approximately $1,568,000.

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.