Limbach Holdings, Inc. (NASDAQ:LMB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $120.00.

Several equities analysts have weighed in on LMB shares. Zacks Research raised Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. assumed coverage on Limbach in a research note on Tuesday, February 3rd. They set a “neutral” rating and a $100.00 price objective on the stock. Wall Street Zen cut Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Finally, Stifel Nicolaus decreased their price target on shares of Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, January 26th.

Insider Buying and Selling

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $77.98, for a total value of $155,960.00. Following the completion of the sale, the insider directly owned 64,979 shares of the company’s stock, valued at approximately $5,067,062.42. The trade was a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Limbach

Several hedge funds have recently made changes to their positions in LMB. Thrivent Financial for Lutherans increased its stake in Limbach by 353.8% in the third quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock valued at $71,395,000 after purchasing an additional 573,136 shares during the last quarter. Invesco Ltd. boosted its stake in Limbach by 2,041.6% in the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock worth $56,124,000 after buying an additional 381,897 shares during the last quarter. First Trust Advisors LP grew its holdings in Limbach by 1,192.1% in the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock valued at $57,606,000 after buying an additional 379,357 shares during the period. Wasatch Advisors LP increased its stake in shares of Limbach by 37.8% during the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock valued at $77,647,000 after acquiring an additional 273,818 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC increased its stake in shares of Limbach by 151.5% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 318,238 shares of the construction company’s stock valued at $24,775,000 after acquiring an additional 191,685 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Stock Down 6.6%

LMB stock opened at $91.42 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The company’s 50 day simple moving average is $85.19 and its 200-day simple moving average is $89.64. Limbach has a 12 month low of $63.02 and a 12 month high of $154.05. The firm has a market capitalization of $1.06 billion, a PE ratio of 30.07 and a beta of 1.31.

Limbach announced that its Board of Directors has initiated a share buyback program on Monday, December 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.