Limbach (NASDAQ:LMB) CFO Sells $71,577.51 in Stock

Limbach Holdings, Inc. (NASDAQ:LMB) CFO Jayme Brooks sold 841 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $85.11, for a total value of $71,577.51. Following the completion of the transaction, the chief financial officer owned 136,543 shares in the company, valued at approximately $11,621,174.73. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Limbach Stock Performance

Limbach stock opened at $82.59 on Monday. The stock’s 50-day moving average is $84.58 and its 200-day moving average is $83.35. The company has a market cap of $964.65 million, a price-to-earnings ratio of 25.49 and a beta of 1.44. 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 Holdings, Inc. has a 12 month low of $65.08 and a 12 month high of $154.05.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Monday, March 2nd. The construction company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. The company had revenue of $186.87 million for 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 quarterly revenue was up 30.1% compared to the same quarter last year. During the same period last year, the business posted $1.15 EPS. Equities analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Limbach declared that its board has approved a share repurchase program on Monday, December 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 5.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Limbach

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Limbach during the 3rd quarter valued at about $54,000. Comerica Bank increased 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 purchasing an additional 167 shares during the last quarter. BNP Paribas Financial Markets increased 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 purchasing an additional 423 shares during the last quarter. Royal Bank of Canada increased 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 purchasing an additional 371 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Limbach by 85.0% during the 3rd quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock worth $158,000 after purchasing an additional 749 shares during the last quarter. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LMB has been the topic of a number of research reports. Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. JPMorgan Chase & Co. dropped their target price on Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Stifel Nicolaus dropped their target price on Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Limbach presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.67.

Limbach Company 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.