Limbach (NASDAQ:LMB) CFO Sells $778,529.60 in Stock

Limbach Holdings, Inc. (NASDAQ:LMB) CFO Jayme Brooks sold 9,910 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $78.56, for a total value of $778,529.60. Following the completion of the transaction, the chief financial officer directly owned 140,750 shares in the company, valued at $11,057,320. This trade represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Limbach Trading Down 1.8%

LMB stock traded down $1.40 during trading on Wednesday, reaching $75.74. 209,667 shares of the stock traded hands, compared to its average volume of 174,071. The firm has a market capitalization of $884.64 million, a PE ratio of 23.38 and a beta of 1.32. 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 business’s 50 day moving average price is $85.77 and its 200-day moving average price is $86.57. Limbach Holdings, Inc. has a 52-week low of $63.02 and a 52-week high of $154.05.

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

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. started coverage on Limbach in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $100.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a research report on Monday, December 29th. Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Stifel Nicolaus dropped their price target on shares of Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMB. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Limbach in the 2nd quarter worth about $868,000. Capital International Investors boosted its stake in Limbach by 10.7% during the 3rd quarter. Capital International Investors now owns 645,288 shares of the construction company’s stock valued at $62,670,000 after purchasing an additional 62,483 shares during the last quarter. Castleark Management LLC acquired a new position in Limbach during the 2nd quarter valued at about $2,962,000. Thrivent Financial for Lutherans increased its holdings in Limbach by 353.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock worth $71,395,000 after purchasing an additional 573,136 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Limbach by 1,192.1% during the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock worth $57,606,000 after purchasing an additional 379,357 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

Limbach Company 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.