Limbach Holdings, Inc. $LMB Stock Holdings Increased by Capital International Investors

Capital International Investors raised its position in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 10.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 645,288 shares of the construction company’s stock after buying an additional 62,483 shares during the quarter. Capital International Investors owned about 5.55% of Limbach worth $62,670,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LMB. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Limbach in the 2nd quarter worth about $868,000. Castleark Management LLC acquired a new stake in Limbach during the second quarter worth about $2,962,000. Thrivent Financial for Lutherans lifted its holdings in Limbach by 353.8% in the third quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock worth $71,395,000 after acquiring an additional 573,136 shares during the last quarter. 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 acquiring an additional 379,357 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Limbach by 6.6% during the second quarter. Geode Capital Management LLC now owns 269,271 shares of the construction company’s stock valued at $37,730,000 after purchasing an additional 16,579 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of the 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 transaction, the insider directly owned 64,979 shares in the company, valued at $5,067,062.42. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.70% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Limbach Trading Down 0.3%

Shares of LMB stock opened at $80.16 on Thursday. Limbach Holdings, Inc. has a 1 year low of $63.02 and a 1 year high of $154.05. The firm has a market capitalization of $936.27 million, a PE ratio of 24.74 and a beta of 1.32. The stock has a fifty day moving average of $85.91 and a two-hundred day moving average of $88.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.44 and a current ratio of 1.44.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Monday, March 2nd. The construction company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. The business had revenue of $186.87 million for the quarter, compared to analysts’ expectations of $197.56 million. Limbach had a net margin of 6.04% and a return on equity of 30.73%. The company’s revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. As a group, research analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Limbach announced that its Board of Directors has authorized a stock buyback plan on Monday, December 15th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Limbach Profile

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.