Insider Buying: Limbach (NASDAQ:LMB) Director Acquires 2,600 Shares

Limbach Holdings, Inc. (NASDAQ:LMB) Director Joshua Horowitz bought 2,600 shares of Limbach stock in a transaction dated Friday, September 11th. The stock was purchased at an average price of $49.01 per share, with a total value of $127,426.00. Following the purchase, the director owned 167,200 shares in the company, valued at approximately $8,194,472. This represents a 1.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Joshua Horowitz also recently made the following trade(s):

• On Tuesday, September 15th, Joshua Horowitz purchased 4,008 shares of Limbach stock. The shares were purchased at an average price of $50.71 per share, for a total transaction of $203,245.68.
• On Tuesday, September 15th, Joshua Horowitz purchased 212 shares of Limbach stock. The shares were acquired at an average price of $50.66 per share, for a total transaction of $10,739.92.
• On Friday, September 11th, Joshua Horowitz acquired 1,000 shares of Limbach stock. The stock was acquired at an average cost of $49.59 per share, for a total transaction of $49,590.00.

Limbach Stock Performance

NASDAQ:LMB traded down $0.66 during trading on Tuesday, reaching $50.52. The company’s stock had a trading volume of 493,183 shares, compared to its average volume of 416,226. Limbach Holdings, Inc. has a 12 month low of $40.74 and a 12 month high of $114.95. The firm has a market cap of $602.70 million, a price-to-earnings ratio of 20.21 and a beta of 1.42. The firm has a 50 day moving average of $57.29 and a 200-day moving average of $73.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29). The business had revenue of $173.46 million for the quarter, compared to the consensus estimate of $177.33 million. Limbach had a return on equity of 23.22% and a net margin of 4.42%. Research analysts expect that Limbach Holdings, Inc. will post 4.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Limbach

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMB. Parkside Financial Bank & Trust purchased a new position in shares of Limbach in the second quarter worth about $36,000. VELA Investment Management LLC lifted its stake in shares of Limbach by 8.6% during the 2nd quarter. VELA Investment Management LLC now owns 45,166 shares of the construction company’s stock valued at $3,478,000 after buying an additional 3,566 shares in the last quarter. Corient Private Wealth LP boosted its holdings in Limbach by 34.5% in the 2nd quarter. Corient Private Wealth LP now owns 23,135 shares of the construction company’s stock worth $1,781,000 after buying an additional 5,938 shares during the period. Grandeur Peak Global Advisors LLC bought a new position in Limbach in the 2nd quarter worth approximately $3,620,000. Finally, Kerrisdale Advisers LLC purchased a new position in Limbach in the 2nd quarter valued at approximately $1,579,000. Institutional investors own 55.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LMB. Royal Bank Of Canada set a $50.00 target price on shares of Limbach in a research note on Friday, August 21st. Weiss Ratings restated a “hold (c)” rating on shares of Limbach in a research note on Wednesday, August 5th. Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. JPMorgan Chase & Co. downgraded Limbach from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $60.00 to $50.00 in a research note on Friday, August 21st. Finally, 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. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.25.

About Limbach

Limbach Holdings, Inc (NASDAQ:LMB) provides building systems solutions and facility services for commercial, institutional, and industrial customers. Its services include the design, installation, maintenance, and operation of mechanical, electrical, plumbing, and heating, ventilation, and air-conditioning systems.

The company serves a range of end markets, including healthcare, education, commercial real estate, government, and manufacturing. Limbach also provides facility maintenance, energy-efficiency solutions, building automation, and other services intended to support the performance and ongoing operation of critical building infrastructure.

Limbach traces its roots to 1901 and is headquartered in Pittsburgh, Pennsylvania.