Brokerages Set Limbach Holdings, Inc. (NASDAQ:LMB) Target Price at $116.67

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $116.6667.

Several equities research analysts have issued reports on LMB shares. Stifel Nicolaus cut their price objective 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Zacks Research raised Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. reduced their price target on Limbach from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th.

Insiders Place Their Bets

In other news, CFO Jayme L. Brooks sold 5,703 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $85.43, for a total value of $487,207.29. Following the completion of the sale, the chief financial officer owned 130,840 shares of the company’s stock, valued at approximately $11,177,661.20. The trade was a 4.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jay Sharp sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $79.99, for a total transaction of $159,980.00. Following the transaction, the executive vice president directly owned 79,027 shares in the company, valued at approximately $6,321,369.73. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,820 shares of company stock valued at $1,784,044 in the last three months. Insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Limbach

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd increased its stake in Limbach by 23.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after acquiring an additional 130 shares during the period. Comerica Bank grew its holdings in shares of 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 in the last quarter. Royal Bank of Canada increased its position in shares of Limbach by 34.5% in the fourth 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 period. Los Angeles Capital Management LLC bought a new position in shares of Limbach in the fourth quarter worth $150,000. Finally, SG Americas Securities LLC raised its stake in Limbach by 85.0% in the third quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock valued at $158,000 after purchasing an additional 749 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Trading Up 4.5%

LMB stock opened at $99.77 on Tuesday. Limbach has a one year low of $65.08 and a one year high of $154.05. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 30.79 and a beta of 1.44. The company has a fifty day moving average price of $85.35 and a two-hundred day moving average price of $83.49. 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 (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 the consensus estimate of $1.26 by $0.14. Limbach had a net margin of 6.04% and a return on equity of 30.73%. The company had revenue of $186.87 million for the quarter, compared to analyst estimates of $197.56 million. During the same period in the prior year, the firm earned $1.15 earnings per share. The company’s revenue was up 30.1% on a year-over-year basis. Equities analysts anticipate that Limbach will post 4.69 EPS for the current year.

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.