Limbach (NASDAQ:LMB) Releases Quarterly Earnings Results, Beats Expectations By $0.43 EPS

Limbach (NASDAQ:LMB) released its quarterly earnings data on Tuesday. The construction company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.43, Zacks reports. Limbach had a return on equity of 30.73% and a net margin of 6.04%.The company had revenue of $138.86 million for the quarter, compared to analyst estimates of $134.23 million. During the same period in the prior year, the company posted $1.12 EPS. The company’s revenue was up 4.3% compared to the same quarter last year.

Limbach Price Performance

Shares of LMB traded up $11.82 on Tuesday, hitting $114.11. The company’s stock had a trading volume of 309,296 shares, compared to its average volume of 185,169. The company has a market capitalization of $1.36 billion, a PE ratio of 35.22 and a beta of 1.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.44 and a quick ratio of 1.44. Limbach has a fifty-two week low of $65.08 and a fifty-two week high of $154.05. The company has a 50 day moving average price of $86.06 and a 200 day moving average price of $83.56.

Analysts Set New Price Targets

LMB has been the topic of several analyst reports. 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. JPMorgan Chase & Co. lowered their price objective on Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. Finally, Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Limbach currently has an average rating of “Moderate Buy” and an average price target of $116.67.

Insider Activity at Limbach

In other news, EVP Jay Sharp sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $79.99, for a total value of $159,980.00. Following the transaction, the executive vice president directly owned 79,027 shares of the company’s stock, valued at $6,321,369.73. The trade was a 2.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jayme L. Brooks sold 9,910 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $78.56, for a total value of $778,529.60. Following the completion of the transaction, the chief financial officer directly owned 140,750 shares in the company, valued at $11,057,320. The trade was a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 27,433 shares of company stock worth $2,345,453 over the last three months. 9.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in Limbach during the 3rd quarter worth $54,000. Comerica Bank lifted its holdings in Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after buying an additional 167 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Limbach by 59.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock worth $158,000 after buying an additional 423 shares in the last quarter. Royal Bank of Canada lifted its holdings in Limbach by 34.5% during the 4th quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock worth $113,000 after buying an additional 371 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in Limbach during the 2nd quarter worth $256,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

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.