TD Asset Management Inc Has $1.06 Million Position in Limbach Holdings, Inc. $LMB

TD Asset Management Inc lifted its position in Limbach Holdings, Inc. (NASDAQ:LMB) by 360.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,882 shares of the construction company’s stock after acquiring an additional 8,520 shares during the period. TD Asset Management Inc owned approximately 0.09% of Limbach worth $1,057,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Comerica Bank increased its position in shares of Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after buying an additional 167 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Limbach by 85.0% during the third quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock worth $158,000 after purchasing an additional 749 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Limbach by 59.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock valued at $158,000 after purchasing an additional 423 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Limbach in the 2nd quarter valued at approximately $256,000. Finally, Accurate Wealth Management LLC increased its stake in Limbach by 28.6% during the 3rd quarter. Accurate Wealth Management LLC now owns 3,000 shares of the construction company’s stock worth $275,000 after purchasing an additional 667 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

Limbach Stock Performance

Shares of LMB opened at $81.51 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.44 and a quick ratio of 1.43. The firm has a 50-day moving average of $85.65 and a 200-day moving average of $89.20. The company has a market cap of $952.04 million, a PE ratio of 25.16 and a beta of 1.32. Limbach Holdings, Inc. has a one year low of $63.02 and a one year high of $154.05.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Monday, March 2nd. The construction company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.14. The business had revenue of $186.87 million during the quarter, compared to the consensus estimate of $197.56 million. Limbach had a return on equity of 30.73% and a net margin of 6.04%.The firm’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 EPS. As a group, equities analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Limbach announced that its Board of Directors has approved a share buyback 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on LMB shares. Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Stifel Nicolaus lowered their price objective on shares of Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, January 26th. JPMorgan Chase & Co. started coverage on shares of Limbach in a report on Tuesday, February 3rd. They set a “neutral” rating and a $100.00 price objective on the stock. Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Wall Street Zen cut Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Insider Transactions at Limbach

In other Limbach news, insider Jay Sharp sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.70% of the company’s stock.

Limbach Profile

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.