Jay Sharp Sells 2,000 Shares of Limbach (NASDAQ:LMB) Stock

Limbach Holdings, Inc. (NASDAQ:LMB) EVP Jay Sharp sold 2,000 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $79.99, for a total value of $159,980.00. Following the completion of the sale, the executive vice president owned 79,027 shares of the company’s stock, valued at $6,321,369.73. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Limbach Stock Performance

Shares of NASDAQ LMB opened at $73.04 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $853.11 million, a price-to-earnings ratio of 22.54 and a beta of 1.32. The stock’s fifty day moving average price is $85.67 and its two-hundred day moving average price is $86.40. Limbach Holdings, Inc. has a one year low of $63.02 and a one year high of $154.05.

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

Limbach announced that its Board of Directors has authorized a stock repurchase program on Monday, December 15th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to buy up to 5.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

LMB has been the topic of a number of analyst reports. JPMorgan Chase & Co. assumed coverage on shares of Limbach in a research report on Tuesday, February 3rd. They set a “neutral” rating and a $100.00 target price on the stock. Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a research report on Monday, December 29th. Finally, Stifel Nicolaus lowered their price objective on Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Limbach in the 2nd quarter valued at $868,000. Capital International Investors raised its holdings in shares of Limbach by 10.7% during 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 position in shares of Limbach during the 2nd quarter worth $2,962,000. Thrivent Financial for Lutherans lifted its position in shares of Limbach by 353.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock worth $71,395,000 after buying an additional 573,136 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Limbach by 1,192.1% in the second 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 in the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

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.