LGN $LGN Position Lifted by Summit Creek Advisors LLC

Summit Creek Advisors LLC boosted its holdings in LGN (NASDAQ:LGN) by 21.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 112,260 shares of the company’s stock after acquiring an additional 20,093 shares during the quarter. LGN comprises about 2.4% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Summit Creek Advisors LLC’s holdings in LGN were worth $6,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Reyes Financial Architecture Inc. purchased a new stake in shares of LGN during the 3rd quarter worth $45,000. KBC Group NV acquired a new position in shares of LGN during the 1st quarter worth $66,000. Nykredit A S acquired a new position in shares of LGN during the 2nd quarter worth $128,000. Avior Wealth Management LLC acquired a new position in shares of LGN during the 2nd quarter worth $203,000. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of LGN in the 2nd quarter valued at about $237,000.

LGN Stock Performance

Shares of LGN stock opened at $27.91 on Friday. The stock has a fifty day moving average price of $47.92 and a 200 day moving average price of $62.60. 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 stock has a market cap of $3.02 billion, a PE ratio of 69.77 and a beta of 3.42. LGN has a 1 year low of $23.90 and a 1 year high of $107.24.

LGN (NASDAQ:LGN) last posted its earnings results on Thursday, August 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.63). The firm had revenue of $1.26 billion during the quarter. LGN had a negative net margin of 1.20% and a positive return on equity of 4.33%. Sell-side analysts forecast that LGN will post 1.36 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Bris Philippe Le sold 4,196 shares of LGN stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $54.06, for a total transaction of $226,835.76. Following the completion of the transaction, the chief accounting officer owned 6,148 shares of the company’s stock, valued at $332,360.88. The trade was a 40.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LGN has been the subject of several recent analyst reports. BMO Capital Markets raised their price objective 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. Stifel Nicolaus lowered their target price on shares of LGN from $101.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Royal Bank Of Canada lowered their target price on shares of 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 reaffirmed a “buy” rating and issued a $120.00 target price on shares of LGN in a report on Wednesday, August 12th. Finally, Guggenheim reiterated a “buy” rating and set a $90.00 price target on shares of LGN in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, LGN has a consensus rating of “Moderate Buy” and an average target price of $96.67.

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.