73,585 Shares of LGN $LGN Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in LGN (NASDAQ:LGN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 73,585 shares of the company’s stock, valued at approximately $3,950,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Reyes Financial Architecture Inc. bought a new stake in shares of LGN in the 3rd quarter worth approximately $45,000. KBC Group NV acquired a new position in LGN in the first quarter worth approximately $66,000. Nykredit A S acquired a new position in LGN in the second quarter worth approximately $128,000. Avior Wealth Management LLC bought a new position in shares of LGN in the second quarter valued at $203,000. Finally, Concurrent Investment Advisors LLC bought a new position in shares of LGN in the second quarter valued at $237,000.

Insider Buying and Selling

In other LGN news, CAO Bris Philippe Le sold 1,058 shares of LGN stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $55.01, for a total transaction of $58,200.58. Following the transaction, the chief accounting officer 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LGN. BTIG Research reiterated a “buy” rating and set a $100.00 price objective (down from $120.00) on shares of LGN in a research report on Friday, August 14th. Bank of America boosted their target price on LGN from $105.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. BMO Capital Markets upped their target price on LGN from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Zacks Research lowered LGN from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 16th. Finally, Tigress Financial lifted their price target on LGN from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.67.

LGN Trading Up 9.8%

LGN stock traded up $2.50 during midday trading on Friday, reaching $27.91. The stock had a trading volume of 4,194,919 shares, compared to its average volume of 1,472,426. The firm’s fifty day simple moving average is $47.92 and its two-hundred day simple moving average is $62.60. LGN has a twelve month low of $23.90 and a twelve month high of $107.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 69.77 and a beta of 3.42.

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

About LGN

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.