Legrand is a global specialist in electrical and digital building infrastructure based in France. Co. offers a full range of control-and-command, cable management, energy distribution and "Voice-Data-Image" products and systems which are suitable for the international commercial, industrial, and residential segments of the low voltage market. Co. markets its products under internationally recognized general brand names, including Legrand and Bticino. Each product group is marketed in all of Co.'s major geographic markets (France, Italy, Rest of Europe, USA/Canada and Rest of the World).
  • TickerLR
  • ISINFR0010307819
  • ExchangeEuronext Paris
  • SectorElectronic & Electrical Equipment
  • CountryFrance

Analysts

Alain William ...
  • Alfred Glaser
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/11/2019

...

Alfred Glaser ...
  • Delphine Brault

Legrand : Real estate sector could be more resilient than expected in France

>An optimistic message yesterday from the French building federation - The French building federation (Fédération Française du Bâtiment, FFB) yesterday conducted its annual September review and it is bucking the trend in recent data somewhat, which is interesting, in our view. Three key takeaways: The FFB has revised up its forecast for building activity to +1.3% in 2019 vs -0.5% forecast in December 2018. The forecast for new housing is adjusted to +0.2% (vs -4...

Alain William ...
  • Alfred Glaser
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/09/2019

...

Alfred Glaser ...
  • Delphine Brault

Legrand : L’immobilier irait mieux que prévu en France

>Un discours optimiste tenu hier par la FFB - La Fédération française du bâtiment a tenu hier son point de rentrée et il est plutôt à contre-courant des chiffres récents, ce que nous jugeons intéressant. Nous retenons 3 points principaux : La FFB a révisé en hausse sa prévision d’activité du bâtiment à +1.3% en 2019 vs -0.5% anticipé en décembre dernier. Le logement neuf voit ses prévisions ajustées à +0.2% (vs -4.5%) et le non résidentiel est désormais anticipé...

Legrand France S.A. - June 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Legrand France S.A.: Update to credit analysis

Update to rating rationale for Legrand’s A3 rating following rating affirmation

Legrand France S.A. - March 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's affirms Legrand France's long-term issuer A3 rating; stable outlook

Rating Action: Moody's affirms Legrand France's long-term issuer A3 rating; stable outlook. Global Credit Research- 14 May 2019. Frankfurt am Main, May 14, 2019-- Moody's Investors Service has today affirmed the A3 long-term issuer rating and its A3 senior unsecured bond rating of Legrand France S.A..

Legrand France S.A. - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Alfred Glaser ...
  • Delphine Brault

Legrand : Real estate sector could be more resilient than expected in France

>An optimistic message yesterday from the French building federation - The French building federation (Fédération Française du Bâtiment, FFB) yesterday conducted its annual September review and it is bucking the trend in recent data somewhat, which is interesting, in our view. Three key takeaways: The FFB has revised up its forecast for building activity to +1.3% in 2019 vs -0.5% forecast in December 2018. The forecast for new housing is adjusted to +0.2% (vs -4...

Alfred Glaser ...
  • Delphine Brault

Legrand : L’immobilier irait mieux que prévu en France

>Un discours optimiste tenu hier par la FFB - La Fédération française du bâtiment a tenu hier son point de rentrée et il est plutôt à contre-courant des chiffres récents, ce que nous jugeons intéressant. Nous retenons 3 points principaux : La FFB a révisé en hausse sa prévision d’activité du bâtiment à +1.3% en 2019 vs -0.5% anticipé en décembre dernier. Le logement neuf voit ses prévisions ajustées à +0.2% (vs -4.5%) et le non résidentiel est désormais anticipé...

Alfred Glaser ...
  • Delphine Brault

Legrand : Le groupe a surpris sur la marge mais déçu sur la croissance organique

>Un T2 qui marque un recul en volume (-0.8%) mais la marge tient - Le groupe a affiché une croissance organique de son chiffre d’affaires de 1.5% sur le T2 (ODDO BHF à 2.2% et consensus à 2.1%), dont +2.7% pour les US, +2.4% en Europe et -1.4% dans la division Reste du Monde (fort recul au Moyen-Orient). La marge d’EBITA ajustée recule de 40 pb à 21.3% (vs -90 pb attendus par le consensus et -60 pb par nous). Le levier opérationnel a été de +30 pb, tandis que les acq...

Alfred Glaser ...
  • Delphine Brault

ODDO : US non-residential construction: +3.8% in 2019e and +2.4% in 2020e

>AIA forecasts updated last week - The American Institute of Architects published its forecasts for the non-residential construction market on Thursday, 18 July. Leading consultancy firms (Dodge Data, IHS Economics, ConstructConnect, Associated Builders & Contractors, etc.) publish for half-yearly periods their growth forecasts for the non-residential construction market for the next 12-24 months.The compilation of the latest data is presented on page 2 (includin...

Alfred Glaser ...
  • Delphine Brault

ODDO : Construction non résidentielle US : +3.8% en 2019e et +2.4% en 2020e

>Les prévisions de l’AIA ont été mises à jour en fin de semaine dernière - L'American Institute of Architects a publié jeudi dernier ses prévisions pour le marché de la construction non résidentielle. Chaque semestre, les principaux cabinets de conseil (Dodge Data, IHS Economics, ConstructConnect, Associated Builders & Contractors, etc.) publient leurs prévisions de croissance pour les 12 à 24 prochains mois.La compilation des derniers chiffres est présentée en p...

1 director sold

A director at Legrand Promesse sold 25,530 shares at 63.722EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of boa...

Alain William ...
  • Alfred Glaser
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/11/2019

...

Alain William ...
  • Alfred Glaser
  • Delphine Brault
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Stephane Houri
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 11/09/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe Chaput
  • Delphine Brault
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Louis Boujard
  • Nicolas David
  • Olfa Taamallah
  • Olivier Lebrun
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 31/07/2019

...

Alfred Glaser ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/22/2019

...

Alfred Glaser ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/07/2019

...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Legrand - AGM 29 May 2019

ITEMS 5 and 7: This year again, the Company's disclosure is very good and allows a perfect understanding of annual bonus granted in 2018. Likewise, the company is one of the few to disclose annual bonus quantitative criteria targets to achieve in 2019.This perfect disclosure and acceptable amounts granted justifies our positive voting recommendations on items 5 and 7.

Jehanne Leroy

Legrand - Assemblée générale des actionnaires du 29 mai 2019

Rémunérations Cette année encore, la très bonne communication de la société permet de parfaitement comprendre le bonus attribué au titre de l'exercice. De la même façon, la société est l'une des rares du CAC 40 à publier, a priori, les objectifs de chacun des critères quantitatifs du bonus annuel pour l'exercice suivant. Cette très bonne transparence alliée à des montants raisonnables et une structure respectant nos préconisations justifient nos recommandations positives sur les rémunérations.

Legrand – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 30/05/2018

On February 8, 2018, the company announced that Chairman and CEO are now split. Gilles Schnepp remains Chairman while Benoît Coquart is CEO. ITEM 5: Although the 2018 remuneration of the Chairman will exceed the index median, considering improvements made on governance (removal of the double voting rights in 2015 and split of Chairman and CEO functions), we support the 2018 remuneration policy of the Chairman. ITEM 6: Although the increase of the fixed remuneration is not excessive, it is combined to the increases of target and maximum bonuses and of LTI cap. Hence the total variable remuner...

Jehanne Leroy

Proxy Report - 30/05/2018

Le 8 février 2018, la société a annoncé la dissociation des fonctions de Président et de Directeur général, jusque-là assumées par Gilles Schnepp. Ce dernier est désormais Président du Conseil tandis que la fonction de Directeur général est assurée par Benoît Coquart. Nous saluons cette amélioration de la gouvernance.C'est celle-ci, couplée à la suppression du droit de vote double en 2015 qui nous permettent de soutenir la politique de rémunération du Président pour 2018. En effet, la rémunération du Président pour 2018 excèdera légèrement la médiane des rémunérations totales des présidents du...

Jérôme VINERIER

Short term view - LEGRAND : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €55.15. The background trend would be questioned should prices rise above €59.24.

Jérôme VINERIER

Analyse court terme - LEGRAND : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 55,15 €. La tendance de fond serait remise en cause en cas de franchissement de 59,24 €.

Jérôme VINERIER

Analyse court terme - LEGRAND : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 55,15 €. La tendance de fond serait remise en cause en cas de franchissement de 59,24 €.

Jérôme VINERIER

Short term view - LEGRAND : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €55.15. The background trend would be questioned should prices rise above €59.24.

Jérôme VINERIER

Medium term view - LEGRAND : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

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