Grandeur Peak Global Advisors LLC Invests $3.62 Million in Limbach Holdings, Inc. $LMB

Grandeur Peak Global Advisors LLC bought a new stake in Limbach Holdings, Inc. (NASDAQ:LMB) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 47,007 shares of the construction company’s stock, valued at approximately $3,620,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LMB. Caitong International Asset Management Co. Ltd grew its holdings in shares of Limbach by 23.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after purchasing an additional 130 shares during the last quarter. Comerica Bank grew its stake in Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after buying an additional 167 shares during the last quarter. State of Wyoming acquired a new position in Limbach during the second quarter worth approximately $71,000. Fifth Third Bancorp purchased a new stake in Limbach in the first quarter valued at approximately $85,000. Finally, Royal Bank of Canada boosted its holdings in shares of Limbach by 34.5% in the fourth quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock valued at $113,000 after acquiring an additional 371 shares during the period. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Price Performance

Shares of NASDAQ LMB opened at $41.73 on Friday. The stock has a fifty day moving average price of $65.42 and a 200 day moving average price of $77.20. Limbach Holdings, Inc. has a 1-year low of $41.17 and a 1-year high of $128.57. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $497.84 million, a PE ratio of 16.69 and a beta of 1.45.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.29). The firm had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million. Limbach had a return on equity of 23.22% and a net margin of 4.42%. Sell-side analysts forecast that Limbach Holdings, Inc. will post 4.17 EPS for the current year.

Insider Transactions at Limbach

In related news, EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 73,456 shares in the company, valued at $5,863,257.92. This trade represents 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 available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LMB has been the topic of a number of recent research reports. Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Royal Bank Of Canada set a $50.00 target price on shares of Limbach in a report on Friday, August 21st. Stifel Nicolaus decreased their target price on shares of Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Wall Street Zen lowered Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. cut Limbach from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $60.00 to $50.00 in a research report on Friday, August 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Limbach presently has an average rating of “Reduce” and an average target price of $62.00.

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.