LGN’s Lock-Up Period Set To Expire on March 11th (NASDAQ:LGN)

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

Analysts Set New Price Targets

Several analysts have recently weighed in on LGN shares. Zacks Research raised shares of LGN from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Stifel Nicolaus lifted their price objective on LGN from $50.00 to $58.00 and gave the company a “buy” rating in a report on Monday, January 26th. The Goldman Sachs Group increased their target price on LGN from $46.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Weiss Ratings assumed coverage on LGN in a report on Wednesday, January 14th. They issued a “sell (d+)” rating for the company. Finally, Tigress Financial upped their price objective on LGN from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.75.

LGN Stock Down 3.4%

Shares of NASDAQ:LGN opened at $54.16 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.98. LGN has a 12 month low of $26.96 and a 12 month high of $58.10.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LGN. Harbor Capital Advisors Inc. acquired a new stake in shares of LGN during the 4th quarter worth about $1,220,000. Assetmark Inc. purchased a new position in shares of LGN during the fourth quarter valued at approximately $31,000. Freestone Capital Holdings LLC acquired a new stake in LGN during the fourth quarter worth approximately $1,153,000. Capelight Capital Asset Management LP purchased a new stake in LGN in the 4th quarter worth approximately $4,089,000. Finally, LBP AM SA purchased a new stake in LGN in the 4th quarter worth approximately $2,887,000.

About LGN

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.