Key Points
- Jay Sharp sold 2,000 Limbach shares on Dec. 15 at an average $77.98 for $155,960, trimming his stake by 2.99% to 64,979 shares (approximately $5.07M).
- The Board authorized a $50.00 million share repurchase plan (up to ~5.7% of outstanding shares), a move that typically signals management believes the stock is undervalued.
- In the latest quarter Limbach reported $1.05 EPS (missing estimates by $0.04) with revenue up 37.8% YoY; the company has a $945.9M market cap and a consensus rating of Hold with an average price target of $133.50.
Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) insider Jay Sharp sold 2,000 shares of the business's stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $77.98, for a total value of $155,960.00. Following the sale, the insider directly owned 64,979 shares of the company's stock, valued at approximately $5,067,062.42. This trade represents a 2.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Limbach Stock Performance
Shares of NASDAQ:LMB opened at $81.33 on Wednesday. The business has a 50-day moving average of $81.93 and a two-hundred day moving average of $108.52. The firm has a market capitalization of $945.87 million, a PE ratio of 26.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. Limbach Holdings, Inc. has a 12 month low of $63.02 and a 12 month high of $154.05.
Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Tuesday, November 4th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.09 by ($0.04). The firm had revenue of $184.58 million for the quarter, compared to analysts' expectations of $184.48 million. Limbach had a return on equity of 30.80% and a net margin of 6.06%.The firm's revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, research analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.
Limbach declared that its Board of Directors has authorized a share repurchase plan on Monday, December 15th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 5.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in LMB. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Limbach during the 2nd quarter worth $868,000. Northern Trust Corp boosted its position in Limbach by 81.7% in the 1st quarter. Northern Trust Corp now owns 166,716 shares of the construction company's stock valued at $12,415,000 after buying an additional 74,986 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of Limbach during the second quarter valued at about $2,962,000. Caxton Associates LLP acquired a new stake in shares of Limbach during the first quarter valued at about $416,000. Finally, Nadler Financial Group Inc. purchased a new stake in shares of Limbach during the second quarter worth about $240,000. 55.85% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Limbach from $119.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Limbach in a research report on Wednesday, December 10th. Wall Street Zen downgraded Limbach from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 8th. Finally, Zacks Research cut Limbach from a "hold" rating to a "strong sell" rating in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $133.50.
Get Our Latest Report on LMB
Limbach Company Profile
(
Get Free Report)
Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
