Mawer Investment Management Ltd. Acquires New Shares in Limbach Holdings, Inc. $LMB

Mawer Investment Management Ltd. acquired a new stake in Limbach Holdings, Inc. (NASDAQ:LMB) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 188,141 shares of the construction company’s stock, valued at approximately $9,206,000. Mawer Investment Management Ltd. owned about 1.58% of Limbach at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Parkside Financial Bank & Trust bought a new stake in Limbach during the 2nd quarter worth approximately $36,000. State of Alaska Department of Revenue acquired a new position in Limbach in the 3rd quarter valued at approximately $25,000. State of Wyoming acquired a new position in Limbach in the 2nd quarter valued at approximately $71,000. Fifth Third Bancorp bought a new position in shares of Limbach during the first quarter valued at $85,000. Finally, Palouse Capital Management Inc. bought a new position in shares of Limbach during the second quarter valued at $154,000. Institutional investors own 55.85% of the company’s stock.

Limbach Trading Down 1.1%

NASDAQ:LMB traded down $0.62 on Friday, reaching $56.03. 64,489 shares of the stock traded hands, compared to its average volume of 189,194. The firm has a market capitalization of $657.23 million, a price-to-earnings ratio of 21.89 and a beta of 1.37. The company’s 50 day moving average is $50.83 and its 200-day moving average is $70.07. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.71. Limbach Holdings, Inc. has a 1-year low of $40.74 and a 1-year high of $114.95.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, November 3rd. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. The firm had revenue of $230.46 million during the quarter, compared to analyst estimates of $218.59 million. Limbach had a net margin of 4.23% and a return on equity of 24.40%. Equities research analysts anticipate that Limbach Holdings, Inc. will post 4.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Joshua Horowitz bought 4,008 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $50.71 per share, for a total transaction of $203,245.68. Following the completion of the acquisition, the director directly owned 171,208 shares in the company, valued at approximately $8,681,957.68. This represents a 2.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired a total of 7,820 shares of company stock worth $391,002 over the last ninety days. 7.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LMB. Wall Street Zen upgraded shares of Limbach from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Stifel Nicolaus set a $81.00 price objective on Limbach in a report on Monday, November 9th. Lake Street Capital increased their price objective on Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Zacks Research raised Limbach from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 6th. Finally, Royal Bank Of Canada set a $50.00 target price on Limbach in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.25.

Limbach Profile

Limbach Group, Inc. provides building systems and related services across the United States. Its work includes the design, installation, maintenance and repair of heating, ventilation and air conditioning (HVAC), plumbing, electrical and building automation systems. The company serves building owners and operators in sectors that include healthcare, education, government, commercial real estate and industrial facilities. Its services range from system upgrades and renovations to ongoing facility maintenance and energy-related improvements.