Jayme Brooks Sells 9,910 Shares of Limbach (NASDAQ:LMB) Stock

Limbach Holdings, Inc. (NASDAQ:LMB) CFO Jayme Brooks sold 9,910 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $78.56, for a total transaction of $778,529.60. Following the transaction, the chief financial officer owned 140,750 shares in the company, valued at approximately $11,057,320. This trade represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Limbach Price Performance

Shares of NASDAQ:LMB opened at $73.04 on Friday. Limbach Holdings, Inc. has a 52 week low of $63.02 and a 52 week high of $154.05. The company has a 50-day moving average price of $85.67 and a 200 day moving average price of $86.40. The company has a market cap of $853.11 million, a P/E ratio of 22.54 and a beta of 1.32. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.16.

Limbach (NASDAQ:LMB) last released its earnings results on Monday, March 2nd. The construction company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.14. The company had revenue of $186.87 million for the quarter, compared to analysts’ expectations of $197.56 million. Limbach had a return on equity of 30.73% and a net margin of 6.04%.The firm’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 EPS. Research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Limbach declared that its Board of Directors has authorized a share buyback program on Monday, December 15th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Limbach

Institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Limbach in the second quarter valued at $868,000. Capital International Investors boosted its position in shares of Limbach by 10.7% in the 3rd quarter. Capital International Investors now owns 645,288 shares of the construction company’s stock worth $62,670,000 after buying an additional 62,483 shares in the last quarter. Castleark Management LLC acquired a new stake in Limbach in the 2nd quarter valued at about $2,962,000. Thrivent Financial for Lutherans grew its stake in Limbach by 353.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock valued at $71,395,000 after acquiring an additional 573,136 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Limbach by 1,192.1% during the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock valued at $57,606,000 after acquiring an additional 379,357 shares in the last quarter. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LMB has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. JPMorgan Chase & Co. started coverage on shares of Limbach in a report on Tuesday, February 3rd. They issued a “neutral” rating and a $100.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Finally, Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.