Limbach (NASDAQ:LMB) Posts Earnings Results, Beats Expectations By $0.14 EPS

Limbach (NASDAQ:LMB) issued its quarterly earnings results on Monday. The construction company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14, FiscalAI reports. Limbach had a net margin of 6.04% and a return on equity of 31.83%. The company had revenue of $186.87 million during the quarter, compared to the consensus estimate of $197.56 million. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The firm’s quarterly revenue was up 30.1% on a year-over-year basis.

Limbach Price Performance

NASDAQ LMB opened at $87.53 on Wednesday. The stock’s 50-day moving average price is $85.50 and its two-hundred day moving average price is $89.27. The company has a market cap of $1.02 billion, a PE ratio of 27.02 and a beta of 1.32. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. Limbach has a 1 year low of $63.02 and a 1 year high of $154.05.

Insider Buying and Selling at Limbach

In related news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction on Monday, December 15th. The stock was sold at an average price of $77.98, for a total transaction of $155,960.00. Following the completion of the sale, the insider owned 64,979 shares of the company’s stock, valued at approximately $5,067,062.42. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Limbach

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP boosted its stake in shares of Limbach by 37.8% in the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock valued at $77,647,000 after purchasing an additional 273,818 shares during the last quarter. First Trust Advisors LP lifted its position in Limbach by 36.0% during the 4th quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock worth $34,423,000 after buying an additional 117,035 shares in the last quarter. Invesco Ltd. boosted its position in Limbach by 2,041.6% during the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock valued at $56,124,000 after purchasing an additional 381,897 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Limbach by 2.8% in the first quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock valued at $21,583,000 after buying an additional 7,771 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Limbach by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 279,862 shares of the construction company’s stock worth $27,178,000 after purchasing an additional 3,708 shares during the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

Limbach declared that its board has authorized a share buyback plan on Monday, December 15th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 5.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Zacks Research raised Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. JPMorgan Chase & Co. began coverage on shares of Limbach in a report on Tuesday, February 3rd. They set a “neutral” rating and a $100.00 price target for the company. Stifel Nicolaus lowered their price objective on Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Finally, Wall Street Zen downgraded shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Limbach presently has an average rating of “Moderate Buy” and an average price target of $120.00.

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.