Joshua Horowitz Acquires 4,008 Shares of Limbach (NASDAQ:LMB) Stock

by · The Markets Daily

Limbach Holdings, Inc. (NASDAQ:LMB – Get Free Report) Director Joshua Horowitz bought 4,008 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $50.71 per share, for a total transaction of $203,245.68. Following the purchase, the director owned 171,208 shares in the company, valued at approximately $8,681,957.68. This represents a 2.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Joshua Horowitz also recently made the following trade(s):

  • On Tuesday, September 15th, Joshua Horowitz bought 212 shares of Limbach stock. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $10,739.92.
  • On Friday, September 11th, Joshua Horowitz purchased 2,600 shares of Limbach stock. The stock was bought at an average cost of $49.01 per share, for a total transaction of $127,426.00.
  • On Friday, September 11th, Joshua Horowitz purchased 1,000 shares of Limbach stock. The shares were purchased at an average cost of $49.59 per share, with a total value of $49,590.00.

Limbach Stock Performance

Limbach stock traded down $0.66 during midday trading on Tuesday, reaching $50.52. 493,183 shares of the stock traded hands, compared to its average volume of 416,226. The firm has a fifty day moving average price of $57.29 and a two-hundred day moving average price of $73.16. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.18. The firm has a market cap of $602.70 million, a price-to-earnings ratio of 20.21 and a beta of 1.42. Limbach Holdings, Inc. has a fifty-two week low of $40.74 and a fifty-two week high of $114.95.

Limbach (NASDAQ:LMB – Get Free Report) last released its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29). The firm had revenue of $173.46 million for 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%. On average, equities research analysts forecast that Limbach Holdings, Inc. will post 4.29 earnings per share for the current year.

Institutional Trading of Limbach

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust acquired a new stake in shares of Limbach in the 2nd quarter valued at $36,000. Caitong International Asset Management Co. Ltd increased its position in Limbach by 51.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 843 shares of the construction company’s stock worth $66,000 after purchasing an additional 286 shares during the period. State of Wyoming acquired a new stake in shares of Limbach during the 2nd quarter worth approximately $71,000. Fifth Third Bancorp bought a new stake in shares of Limbach during the first quarter worth approximately $85,000. Finally, Palouse Capital Management Inc. bought a new position in Limbach in the second quarter valued at approximately $154,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

Analyst Ratings Changes

LMB has been the subject of a number of recent analyst reports. Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. JPMorgan Chase & Co. downgraded shares of Limbach from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $60.00 to $50.00 in a report on Friday, August 21st. Lake Street Capital increased their target price on shares of Limbach from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Royal Bank Of Canada set a $50.00 price objective on shares of Limbach in a research note on Friday, August 21st. Finally, Stifel Nicolaus cut 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. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Limbach currently has a consensus rating of “Hold” and an average target price of $70.25.

Read Our Latest Stock Analysis on LMB

About Limbach

(Get Free Report)

Limbach Holdings, Inc (NASDAQ:LMB) provides building systems solutions and facility services for commercial, institutional, and industrial customers. Its services include the design, installation, maintenance, and operation of mechanical, electrical, plumbing, and heating, ventilation, and air-conditioning systems.

The company serves a range of end markets, including healthcare, education, commercial real estate, government, and manufacturing. Limbach also provides facility maintenance, energy-efficiency solutions, building automation, and other services intended to support the performance and ongoing operation of critical building infrastructure.

Limbach traces its roots to 1901 and is headquartered in Pittsburgh, Pennsylvania.

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