Key Points
- CFO Jayme Brooks sold 9,910 shares at an average price of $78.56 for a total of $778,529.60, reducing her stake by 6.58% to 140,750 shares (SEC filing disclosed).
- Limbach beat quarterly EPS estimates with $1.40 versus $1.26, posted 30.1% year-over-year revenue growth to $186.87 million, but revenue missed analyst expectations; the company reported a 6.04% net margin and 30.73% ROE.
- The board approved a $50 million share repurchase program (about 5.7% of shares), and analysts carry a consensus rating of "Moderate Buy" with a $120 target while the company has a market cap of roughly $885 million.
Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) EVP Jay Sharp sold 2,000 shares of Limbach stock in a transaction on Monday, March 16th. The stock was sold at an average price of $79.99, for a total transaction of $159,980.00. Following the completion of the sale, the executive vice president owned 79,027 shares of the company's stock, valued at approximately $6,321,369.73. This trade represents a 2.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Limbach Trading Down 1.8%
NASDAQ LMB opened at $75.74 on Thursday. Limbach Holdings, Inc. has a 12 month low of $63.02 and a 12 month high of $154.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $884.64 million, a price-to-earnings ratio of 23.38 and a beta of 1.32. The company's fifty day moving average price is $85.75 and its two-hundred day moving average price is $86.49.
Limbach (NASDAQ:LMB - Get Free Report) last released its earnings results on Monday, March 2nd. The construction company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.14. The company had revenue of $186.87 million during the quarter, compared to the consensus estimate of $197.56 million. Limbach had a net margin of 6.04% and a return on equity of 30.73%. The company's revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 EPS. As a group, research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.
Limbach announced that its Board of Directors has authorized a stock buyback plan on Monday, December 15th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
Hedge Funds Weigh In On Limbach
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank raised its position in shares of Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company's stock worth $64,000 after purchasing an additional 167 shares during the period. AQR Capital Management LLC grew its stake in Limbach by 5.5% during the 1st quarter. AQR Capital Management LLC now owns 16,903 shares of the construction company's stock worth $1,259,000 after buying an additional 876 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Limbach by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company's stock worth $451,000 after buying an additional 241 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Limbach by 2.8% in the first quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company's stock worth $21,583,000 after buying an additional 7,771 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Limbach in the second quarter valued at $868,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have commented on LMB. Stifel Nicolaus reduced their target price on Limbach from $111.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, January 26th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Limbach in a report on Monday, December 29th. JPMorgan Chase & Co. started coverage on Limbach in a research report on Tuesday, February 3rd. They set a "neutral" rating and a $100.00 price target on the stock. Finally, Zacks Research raised shares of Limbach from a "strong sell" rating to a "hold" rating in a report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Limbach currently has an average rating of "Moderate Buy" and an average price target of $120.00.
Check Out Our Latest Analysis on Limbach
About Limbach
(
Get Free Report)
Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.
The company's service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.
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