Limbach (NASDAQ:LMB) Insider Jay Sharp Sells 2,000 Shares

Limbach Holdings, Inc. (NASDAQ:LMB) insider Jay Sharp sold 2,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $77.98, for a total value of $155,960.00. Following the transaction, the insider directly owned 64,979 shares of the company’s stock, valued at approximately $5,067,062.42. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Limbach Price Performance

NASDAQ:LMB traded up $2.24 during mid-day trading on Tuesday, reaching $81.33. 293,547 shares of the stock were exchanged, compared to its average volume of 147,249. Limbach Holdings, Inc. has a 1-year low of $63.02 and a 1-year high of $154.05. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average price of $81.93 and a 200 day moving average price 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.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.04). Limbach had a return on equity of 30.80% and a net margin of 6.06%.The company had revenue of $184.58 million for the quarter, compared to the consensus estimate of $184.48 million. During the same period in the prior year, the business earned $0.62 earnings per share. The business’s revenue was up 37.8% compared to the same quarter last year. Research analysts expect that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Limbach declared that its board has authorized a stock repurchase program on Monday, December 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research lowered shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Stifel Nicolaus decreased their target price on shares of Limbach from $119.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a report on Wednesday, December 10th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Limbach currently has an average rating of “Hold” and a consensus target price of $133.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LMB. Opal Wealth Advisors LLC bought a new position in shares of Limbach in the second quarter worth about $32,000. AlphaQuest LLC bought a new position in Limbach during the first quarter worth $53,000. Caitong International Asset Management Co. Ltd bought a new stake in Limbach in the 3rd quarter valued at $54,000. Comerica Bank grew its position in Limbach by 24.0% in 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 last quarter. Finally, AdvisorShares Investments LLC acquired a new stake in Limbach during the second quarter worth about $114,000. Institutional investors own 55.85% of the company’s stock.

About Limbach

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.