Key Points
- Limbach EVP Jay Sharp sold 4,871 shares on June 15 at an average price of $79.82, totaling about $388,803. The sale reduced his holdings by 6.22% and was made under a pre-arranged Rule 10b5-1 plan.
- The stock was up 0.5% and opened at $80.34, with a market cap of about $957.65 million. It has traded between $65.08 and $154.05 over the past year.
- Limbach recently beat earnings expectations, reporting $0.64 EPS versus the $0.21 consensus and revenue of $138.86 million. Despite the strong quarter, analysts currently have a Hold consensus rating with a target price of $116.67.
Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) EVP Jay Sharp sold 4,871 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $79.82, for a total value of $388,803.22. Following the completion of the transaction, the executive vice president owned 73,456 shares of the company's stock, valued at $5,863,257.92. This trade represents a 6.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Limbach Stock Up 0.5%
Shares of Limbach stock opened at $80.34 on Thursday. The stock has a 50-day moving average price of $82.83 and a 200 day moving average price of $82.30. The company has a market cap of $957.65 million, a P/E ratio of 29.21 and a beta of 1.42. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26. Limbach Holdings, Inc. has a 1 year low of $65.08 and a 1 year high of $154.05.
Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.43. The firm had revenue of $138.86 million during the quarter, compared to the consensus estimate of $134.23 million. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The business's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.12 EPS. As a group, analysts expect that Limbach Holdings, Inc. will post 4.98 EPS for the current fiscal year.
Institutional Trading of Limbach
Several institutional investors have recently modified their holdings of LMB. Invesco Ltd. grew its holdings in shares of Limbach by 2,041.6% during the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company's stock worth $56,124,000 after purchasing an additional 381,897 shares in the last quarter. Wasatch Advisors LP grew its stake in Limbach by 37.8% in the fourth quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company's stock valued at $77,647,000 after acquiring an additional 273,818 shares during the period. Neumeier Poma Investment Counsel LLC grew its stake in Limbach by 151.5% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 318,238 shares of the construction company's stock valued at $24,775,000 after acquiring an additional 191,685 shares during the period. Royce & Associates LP grew its stake in Limbach by 83.7% in the fourth quarter. Royce & Associates LP now owns 335,663 shares of the construction company's stock valued at $26,131,000 after acquiring an additional 152,956 shares during the period. Finally, First Trust Advisors LP grew its stake in Limbach by 36.0% in the fourth quarter. First Trust Advisors LP now owns 442,173 shares of the construction company's stock valued at $34,423,000 after acquiring an additional 117,035 shares during the period. Institutional investors and hedge funds own 55.85% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on LMB shares. JPMorgan Chase & Co. cut their price target on Limbach from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, March 26th. Wall Street Zen downgraded Limbach from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings downgraded Limbach from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $116.67.
Read Our Latest Stock Report on LMB
Limbach Company Profile
(
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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