Legence Corp. (LGN) Stock Price & Analysis
Legence Corp. (LGN) closed at USD 36.86 on Thursday, October 22, 2026, down 11.29% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 41.55; the Oct 22, 2026 session ranged USD 36.12–39.87 on volume of 2,380,533 shares. Market capitalization is $6.06B, with a 52-week range of USD 31.26–107.24 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:49 UTC.
Also available as compact Markdown for AI agents: nexqual.com/LGN.md
Key facts (LGN)
- Last four reported quarters (through Jun 30, 2026): revenue $3.75B, net income -$45.0M (-1.2% margin), free cash flow $323M (SEC filings).
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $1.66B; 2 not under a Rule 10b5-1 plan ($1.66B); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.94 on a 1–5 scale) (17 analysts), mean target USD 95.82 (range 60–130).
- Total return with dividends: 1Y +13.1% vs S&P 500 +14.9%; 5Y +20.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-13, EPS estimate USD 0.59, revenue estimate $1.26B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (LGN)
| USD | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|
| Revenue | $1.62B | $2.10B | $2.55B | $3.75B |
| Gross profit | $315M | $431M | $536M | — |
| Operating income | $10.3M | $70.4M | $61.6M | $29.4M |
| Net income | -$46.0M | -$28.6M | -$59.8M | -$45.0M |
| Free cash flow | $16.8M | $10.3M | $219M | $323M |
| Gross margin | 19.5% | 20.5% | 21.0% | — |
| Operating margin | 0.6% | 3.4% | 2.4% | 0.8% |
| Net margin | -2.8% | -1.4% | -2.3% | -1.2% |
| Revenue growth | — | +29.9% | +21.5% | — |
| Cash + short-term investments | — | $81.2M | $230M | — |
| Total debt | — | $1.62B | $836M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (LGN)
P/S 1.6x · EV/EBITDA 44.4x · EV/Sales 1.8x · P/FCF 18.7x · P/B 10.1x · FCF yield 5.34% · Earnings yield -0.74% · Net debt $749M · EV $6.80B
Insider sales (SEC Form 4, open-market, last ~7 months) (LGN)
2 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-18 | Le Bris Philippe | Chief Accounting Officer | 1,058 | $58K | 18.2% | Yes (adopted June 16, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-15 | Le Bris Philippe | Chief Accounting Officer | 4,196 | $227K | 41.9% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-04-09 | Blackstone Ema Iii L.L.C. | 15,394,112 | $831M | 44.1% | No | Too little history (no open-market trades in 2023 or 2024) | |
| 2026-04-09 | Legence Parent Ml Llc | 15,394,112 | $831M | 44.1% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (LGN)
Consensus Buy (mean 1.94 on a 1–5 scale), 17 analysts; mean target USD 95.82 (low 60, high 130).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | Barclays | Target lowered | Equal-Weight | $80 → $60 |
| 2026-10-15 | RBC Capital | Target lowered | Outperform | $101 → $90 |
| 2026-10-08 | Stifel | Target lowered | Buy | $101 → $82 |
| 2026-08-19 | Tigress Financial | Target raised | Buy | $125 → $130 |
| 2026-08-18 | Guggenheim | Reiterated | Buy | $115 |
| 2026-08-14 | B of A Securities | Target raised | Buy | $105 → $116 |
| 2026-08-14 | BMO Capital | Target raised | Outperform | $100 → $105 |
| 2026-08-14 | BTIG | Target lowered | Buy | $120 → $100 |
| 2026-08-12 | Roth Capital | Reiterated | Buy | $120 |
| 2026-07-22 | RBC Capital | Target lowered | Outperform | $106 → $101 |
| 2026-07-10 | Guggenheim | Target raised | Buy | $106 → $115 |
Total return (dividends reinvested) (LGN)
| 1Y (from 2025-10-23) | 5Y (from 2025-09-08) | |
|---|---|---|
| Total return | +13.1% | +20.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +13.1% | +18.4% |
| Volatility (annualized) | 73.5% | 59.0% |
| Max drawdown | -64.0% (May 2026→Oct 2026) | -63.1% (May 2026→Oct 2026) |
LGN revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Installation & Maintenance | $1.06B | 83.6% | +162.0% |
| Engineering & Consulting | $206.9M | 16.4% | +5.5% |
| Total revenue | $1.26B | 100% | — |
LGN revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Installation & Fabrication | $924.9M | 73.3% | +189.0% |
| Maintenance & Service | $130.3M | 10.3% | +57.5% |
| Program & Project Management | $104.5M | 8.3% | +16.9% |
| Engineering & Design | $102.3M | 8.1% | -4.1% |
| Total revenue | $1.26B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
LGN suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Legence Parent | “In connection with the closing of the IPO, we entered into a registration rights agreement with Legence Parent and Legence Parent II (such parties, and including any permitted transferees thereof, the "Registration Rights Holders"), granting them registration rights.” |
| Partner | Legence Parent ML | “(5)Based on information provided to us, as of the date of this filing, each of Legence Parent ML and Legence Parent II ML has pledged, hypothecated or granted security interests in all of the shares of Class A Common Stock and, as applicable, shares of Class B Common Stock and all of the LGN Units, held by it pursuant to a margin loan agreement with customary default provisions.” |
| Partner | Legence Parent II ML | “(5)Based on information provided to us, as of the date of this filing, each of Legence Parent ML and Legence Parent II ML has pledged, hypothecated or granted security interests in all of the shares of Class A Common Stock and, as applicable, shares of Class B Common Stock and all of the LGN Units, held by it pursuant to a margin loan agreement with customary default provisions.” |
| Partner | Legence Parent II | “In connection with the closing of the IPO, we entered into a registration rights agreement with Legence Parent and Legence Parent II (such parties, and including any permitted transferees thereof, the "Registration Rights Holders"), granting them registration rights.” |
Quoted from the company's 10-K filed Mar 30, 2026.
LGN customer concentration
In the period ended Jun 30, 2026, a single direct customer accounted for 17.2% of revenue, per the company's 10-Q filed Aug 13, 2026. The company does not name it.
LGN company outlook (results filed Aug 13, 2026)
- “Guidance for Revenue of $1.225 Billion - $1.275 Billion and Non-GAAP Adjusted EBITDA of $150 Million - $160 Million Raise Full Year 2026 Guidance for Revenue to $4.7 Billion - $4.8 Billion and Non-GAAP Adjusted EBITDA of $565 Million - $585 Million SAN JOSE, California - August 13, 2026 - Legence Corp.”
- “As we enter the second half of 2026, healthy industry conditions, combined with our backlog-supported visibility, gives us confidence to raise our revenue and profit outlook for the year." 1 Excludes impact of approximately $303.8 million of second quarter 2026 revenues from Bowers.”
Quoted word-for-word from the SEC 8-K results press release.
LGN analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.59 | $0.38 | +52.8% | $1.26B | 8 |
| Next quarter (ends Dec 2026) | $0.54 | $0.38 | +43.3% | $1.23B | 8 |
| Current fiscal year (ends Dec 2026) | $1.49 | $1.46 | +2.1% | $4.79B | 9 |
| Next fiscal year (ends Dec 2027) | $2.48 | $1.81 | +37.0% | $5.45B | 11 |
LGN options: expected move
Options price a move of about ±21.7% (±$8.03) by Nov 20, 2026, which includes earnings on Nov 13, 2026. Over the last 4 reports the stock moved ±10.3% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 96.8% | ±21.7% |
| Dec 18, 2026 | 56 | 85.3% | ±26.6% |
| Feb 19, 2027 | 119 | 78.0% | ±35.4% |
| May 21, 2027 | 210 | 77.1% | ±45.4% |
30-day implied volatility 94% vs 61.6% realized over the last 30 trading days. Put/call ratio (volume) 1.4. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:49 UTC)
| Price | USD 36.86 |
|---|---|
| Change | ▼ 11.29% (down) |
| Previous Close | USD 41.55 |
| Open | USD 39.87 |
| Day Range | USD 36.12 – 39.87 |
| 52-Week Range | USD 31.26 – 107.24 |
| Volume | 2,380,533 shares |
| Market Cap | $6.06B |
| Exchange | NMS |
Technical Analysis (LGN)
Nexqual's technical model rates LGN "SELL" based on 3 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:49 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 24.17 (oversold) |
| vs SMA50 | Below (USD 53.53) |
| MACD | -3.98 (negative) |
Analyst Ratings (LGN)
Wall Street analysts rate LGN "Buy" based on 17 analysts, with a mean price target of USD 95.82 (range USD 60–130), per Nexqual as of October 23, 2026 at 09:49 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 17 |
| Mean Target | USD 95.82 |
| High Target | USD 130 |
| Low Target | USD 60 |
| Buy / Hold / Sell | 16 / 1 / 0 |
Earnings (LGN)
| Next Earnings Date | 2026-11-13 |
|---|---|
| EPS Estimate | USD 0.59 |
| Revenue Estimate | $1.26B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.22 vs est 0.34 ▼ miss |
| 2026-03-31 | USD 0.29 vs est 0.18 ▲ beat |
| 2025-12-31 | USD 0.23 vs est 0.05 ▲ beat |
| 2025-09-30 | USD 0.16 vs est 0.08 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:49 UTC.
Financials & Fundamentals (LGN)
| Total Revenue | $3.75B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +110.70% |
| Gross Margin | +18.74% |
| Operating Margin | +2.75% |
| Profit Margin | -1.20% |
| ROE | -12.43% |
| Debt / Equity | 1.22 |
| Current Ratio | 1.35 |
| Total Cash | $295.44M |
| Total Debt | $1.20B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $323.18M (8.6% of revenue) |
Source: Nexqual, October 23, 2026 at 09:49 UTC.
Financial Health Score (LGN)
Nexqual rates Legence Corp.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:49 UTC.
| Growth | Strong — Revenue +22% YoY (annual) |
|---|---|
| Profitability | Weak — Gross margin 19%, operating 3% (last 12 months) |
| Balance Sheet | Mixed — $292M cash and investments vs $1.04B debt (Jun 2026, SEC) |
| Cash Flow | Solid — FCF $323M (last 4 quarters to Jun 2026, SEC), 9% margin |
| Efficiency | Critical — ROE -12%, ROA 2.3% |
Ownership (LGN)
| Insider Ownership | +0.25% |
|---|---|
| Institutional Ownership | +114.24% |
| Shares Outstanding | 76.90M |
| Float | 57.34M |
| Short % of Float | +6.21% |
Source: Nexqual, October 23, 2026 at 09:49 UTC.
Leadership (LGN)
Legence Corp. is led by Jeffrey Sprau, CEO & Director, per Nexqual as of October 23, 2026 at 09:49 UTC.
| CEO & Director | Jeffrey Sprau |
|---|---|
| Chief Financial Officer | Stephen M. Butz |
| Chief Operating Officer | Stephen Hansen |
| Chief Strategy Officer | Justin Schwartz |
| Vice President of Finance & Investor Relations | Son P. Vann C.F.A. |
Major Backers & Investors (LGN)
Notable institutional backers of Legence Corp. include Blackstone Inc, First TRT Exch-Trd Fd. VI-First TRT RBA American Industrial Renaissanc, Jupiter Topco LLC, according to Nexqual as of October 23, 2026 at 09:49 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Blackstone Inc | 25.32% |
| First TRT Exch-Trd Fd. VI-First TRT RBA American Industrial Renaissanc | 3.91% |
| Jupiter Topco LLC | 3.75% |
| Franklin Resources, Inc. | 3.73% |
| Healthcare of Ontario Pension Plan Trust Fund | 3.3% |
| JANUS INVESTMENT FUND-Janus Henderson Triton Fund | 2.5% |
| First Trust Advisors LP | 2.45% |
| Franklin Custodian Funds-FRANKLIN DYNATECH FUND | 2.21% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 6.59% |
| BlackRock | 5.88% |
Source: Nexqual, October 23, 2026 at 09:49 UTC.
From Legence Corp.'s Latest SEC 10-K Filing (filed 2026-03-30)
Key Strengths & Strategy (as disclosed to the SEC)
- We believe our approach maximizes interaction with key decisionmakers at prospective and existing clients, increases the credibility of our offering because the same individuals provide the service that make the sale and enables us to sell a large number of jobs with minimal sales and marketing expense.
Legal & Regulatory Risks (Item 1A, quoted)
- The nature of our business exposes us to potential liability for warranty, engineering and other related claims and our insurance policies may not provide adequate coverage.
- We use artificial intelligence, machine learning, data science and analytics and related tools in our business, and challenges with properly managing such technologies, as well as uncertainty regarding the legal and regulatory landscape surrounding their use, could result in reputational harm, competitive harm and legal liability, and adversely affect our business.
- Legal proceedings, investigations and disputes could result in substantial monetary penalties and damages, especially if such penalties and damages exceed or are excluded from existing insurance coverage.
- Changes in accounting rules and regulations could adversely affect our financial results.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| FLR | Fluor Corporation | USD 43.42 | ▼ 6.44% |
| DY | Dycom Industries, Inc. | USD 225.16 | ▼ 5.18% |
| ACA | Arcosa, Inc. | USD 149.15 | ▲ 0.08% |
| KBR | KBR, Inc. | USD 39.53 | ▲ 5.95% |
| ECG | Everus Construction Group, Inc. | USD 97.05 | ▼ 8.44% |
| GVA | Granite Construction Incorporat | USD 107.45 | ▼ 2.08% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:49 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt