Insider Selling: Limbach (NASDAQ:LMB) EVP Sells 2,000 Shares of Stock
by Michael Walen · The Markets DailyLimbach Holdings, Inc. (NASDAQ:LMB – Get Free Report) EVP Jay Sharp sold 2,000 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $79.99, for a total transaction of $159,980.00. Following the completion of the sale, the executive vice president directly owned 79,027 shares in the company, valued at approximately $6,321,369.73. This represents a 2.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Limbach Stock Down 1.8%
Limbach stock traded down $1.40 during mid-day trading on Wednesday, reaching $75.74. The company’s stock had a trading volume of 209,667 shares, compared to its average volume of 174,071. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.44 and a current ratio of 1.44. Limbach Holdings, Inc. has a 12 month low of $63.02 and a 12 month high of $154.05. The business’s 50 day simple moving average is $85.77 and its 200 day simple moving average is $86.57. The company has a market capitalization of $884.64 million, a price-to-earnings ratio of 23.38 and a beta of 1.32.
Limbach (NASDAQ:LMB – Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The construction company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $186.87 million during the quarter, compared to the consensus estimate of $197.56 million. Limbach had a net margin of 6.04% and a return on equity of 30.73%. The company’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 EPS. As a group, research analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.
Limbach declared that its Board of Directors has approved a stock repurchase plan on Monday, December 15th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 5.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
Analysts Set New Price Targets
Several research analysts have weighed in on LMB shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a research report on Monday, December 29th. Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Stifel Nicolaus dropped their price target on shares of Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. started coverage on shares of Limbach in a research report on Tuesday, February 3rd. They issued a “neutral” rating and a $100.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $120.00.
Get Our Latest Research Report on LMB
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in Limbach during the second quarter worth $868,000. Capital International Investors raised its position in shares of Limbach by 10.7% in the third 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 period. Castleark Management LLC acquired a new stake in shares of Limbach during the 2nd quarter worth about $2,962,000. Thrivent Financial for Lutherans lifted its stake in shares of 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 buying an additional 573,136 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of 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 buying an additional 379,357 shares during the period. 55.85% of the stock is owned by institutional investors and hedge funds.
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.