Brokerages Set Limbach Holdings, Inc. (NASDAQ:LMB) PT at $116.67

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have been given a consensus rating of “Hold” by the five research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $116.6667.

A number of research analysts recently issued reports on LMB shares. JPMorgan Chase & Co. dropped their target price on shares of Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Weiss Ratings downgraded shares of Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th.

Insider Activity

In related news, CFO Jayme L. Brooks sold 5,703 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $85.43, for a total transaction of $487,207.29. Following the transaction, the chief financial officer owned 130,840 shares in the company, valued at $11,177,661.20. The trade was a 4.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 15,523 shares of company stock worth $1,406,943. 7.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LMB. Comerica Bank lifted its position in shares of Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after acquiring an additional 167 shares during the period. AQR Capital Management LLC raised its holdings in Limbach by 5.5% during the first quarter. AQR Capital Management LLC now owns 16,903 shares of the construction company’s stock worth $1,259,000 after buying an additional 876 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Limbach by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock worth $451,000 after buying an additional 241 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Limbach by 2.8% during the first quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock worth $21,583,000 after buying an additional 7,771 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in Limbach during the second quarter worth $421,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Stock Up 2.1%

Shares of NASDAQ LMB opened at $79.97 on Wednesday. The company has a market capitalization of $953.32 million, a P/E ratio of 29.08 and a beta of 1.42. Limbach has a 52-week low of $65.08 and a 52-week high of $154.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71. The company’s 50 day moving average price is $82.83 and its 200-day moving average price is $82.23.

Limbach (NASDAQ:LMB) last issued its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.43. Limbach had a net margin of 5.09% and a return on equity of 26.17%. The firm had revenue of $138.86 million for the quarter, compared to the consensus estimate of $134.23 million. During the same quarter in the previous year, the company earned $1.12 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts forecast that Limbach will post 4.98 earnings per share for the current year.

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.