Limbach (NASDAQ:LMB) Announces Quarterly Earnings Results, Misses Estimates By $0.29 EPS

by · The Cerbat Gem

Limbach (NASDAQ:LMBGet Free Report) posted its earnings results on Tuesday. The construction company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29), FiscalAI reports. Limbach had a return on equity of 23.58% and a net margin of 4.42%.The firm had revenue of $173.46 million for the quarter, compared to analysts’ expectations of $177.33 million.

Limbach Stock Performance

Shares of NASDAQ:LMB traded down $2.07 during trading on Thursday, reaching $47.66. 394,672 shares of the company’s stock traded hands, compared to its average volume of 238,989. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71. The company has a 50 day moving average of $76.94 and a 200-day moving average of $81.69. Limbach has a 12 month low of $47.52 and a 12 month high of $128.57. The stock has a market capitalization of $568.06 million, a P/E ratio of 19.11 and a beta of 1.45.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LMB shares. Weiss Ratings cut Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Wall Street Zen lowered Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Limbach currently has an average rating of “Hold” and a consensus price target of $97.00.

View Our Latest Stock Report on LMB

Insider Buying and Selling at Limbach

In related news, EVP Jay Sharp sold 4,871 shares of the firm’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 sale, the executive vice president owned 73,456 shares of the company’s stock, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Limbach

Hedge funds have recently made changes to their positions in the business. XTX Topco Ltd increased its position in Limbach by 109.7% in the 4th quarter. XTX Topco Ltd now owns 8,004 shares of the construction company’s stock valued at $623,000 after acquiring an additional 4,187 shares during the period. Stokes Family Office LLC bought a new stake in shares of Limbach during the fourth quarter valued at about $229,000. Voloridge Investment Management LLC acquired a new stake in Limbach in the fourth quarter worth about $1,158,000. Millennium Management LLC grew its position in Limbach by 9.8% in the 4th quarter. Millennium Management LLC now owns 49,758 shares of the construction company’s stock valued at $3,874,000 after buying an additional 4,455 shares in the last quarter. Finally, Man Group plc raised its holdings in Limbach by 397.1% during the fourth quarter. Man Group plc now owns 12,483 shares of the construction company’s stock worth $972,000 after purchasing an additional 9,972 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

About Limbach

(Get Free Report)

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.

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