Wasatch Advisors LP Reduces Stock Holdings in Limbach Holdings, Inc. $LMB

Wasatch Advisors LP lowered its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 2.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 969,639 shares of the construction company’s stock after selling 27,755 shares during the quarter. Wasatch Advisors LP owned approximately 0.08% of Limbach worth $75,680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd lifted its position in Limbach by 23.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after buying an additional 130 shares during the last quarter. Comerica Bank increased its position in Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after acquiring an additional 167 shares during the last quarter. Caxton Associates LLP increased its position in Limbach by 4.9% during the third quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock valued at $352,000 after acquiring an additional 168 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Limbach by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company’s stock valued at $537,000 after acquiring an additional 204 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Limbach by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock valued at $451,000 after acquiring an additional 241 shares during the period. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Trading Down 0.6%

LMB stock opened at $81.43 on Friday. The company has a market capitalization of $970.65 million, a PE ratio of 29.61 and a beta of 1.42. Limbach Holdings, Inc. has a 12 month low of $65.08 and a 12 month high of $154.05. The firm’s 50-day moving average is $82.31 and its 200 day moving average is $82.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, May 5th. The construction company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.43. The company had revenue of $138.86 million during the quarter, compared to analyst estimates of $134.23 million. Limbach had a net margin of 5.09% and a return on equity of 26.17%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. On average, research analysts anticipate that Limbach Holdings, Inc. will post 4.98 EPS for the current year.

Insider Buying and Selling

In related news, EVP Jay Sharp sold 4,871 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $79.82, for a total value of $388,803.22. Following the completion of the sale, the executive vice president owned 73,456 shares in the company, valued at approximately $5,863,257.92. The trade was a 6.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jayme L. Brooks sold 5,703 shares of the stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $85.43, for a total value of $487,207.29. Following the completion of the transaction, the chief financial officer directly owned 130,840 shares in the company, valued at approximately $11,177,661.20. This trade represents a 4.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 20,394 shares of company stock worth $1,795,746. Corporate insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. cut their price target on shares of Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Finally, Weiss Ratings lowered shares of Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.67.

About Limbach

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.