LGN’s (NASDAQ:LGN) Lock-Up Period Will Expire Tomorrow

LGN’s (NASDAQ:LGN) lock-up period is set to expire on Wednesday, March 11th. LGN had issued 26,000,000 shares in its public offering on September 12th. The total size of the offering was $728,000,000 based on an initial share price of $28.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

A number of analysts recently issued reports on LGN shares. Weiss Ratings assumed coverage on LGN in a research note on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. Zacks Research upgraded shares of LGN from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 16th. Tigress Financial boosted their price objective on shares of LGN from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. The Goldman Sachs Group increased their target price on shares of LGN from $46.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, Barclays raised their price target 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. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, LGN currently has an average rating of “Moderate Buy” and a consensus price target of $53.75.

LGN Trading Up 0.1%

Shares of LGN opened at $50.44 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.57 and a quick ratio of 1.57. LGN has a 1-year low of $26.96 and a 1-year high of $58.10.

Institutional Trading of LGN

Hedge funds have recently made changes to their positions in the stock. Hiddenite Capital Partners LP bought a new position in LGN in the fourth quarter valued at $6,569,000. Oppenheimer Asset Management Inc. bought a new stake in LGN during the fourth quarter worth about $297,000. Comerica Bank purchased a new position in shares of LGN in the 4th quarter worth about $192,000. Pictet Asset Management Holding SA purchased a new position in shares of LGN in the 4th quarter worth about $1,722,000. Finally, Vanguard Group Inc. increased its position in shares of LGN by 78.1% during the 4th quarter. Vanguard Group Inc. now owns 3,227,670 shares of the company’s stock valued at $138,919,000 after purchasing an additional 1,415,282 shares during the last quarter.

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.