Limbach Holdings, Inc. $LMB Stake Lessened by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in Limbach Holdings, Inc. (NASDAQ:LMB) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 626,026 shares of the construction company’s stock after selling 7,060 shares during the period. Vanguard Group Inc. owned about 0.05% of Limbach worth $60,800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Comerica Bank raised its position in Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after buying an additional 167 shares during the period. SG Americas Securities LLC boosted its position 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 acquiring an additional 749 shares during the period. BNP Paribas Financial Markets boosted its position 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 acquiring an additional 423 shares during the period. Prudential Financial Inc. purchased a new position in Limbach during the 2nd quarter valued at about $256,000. Finally, Accurate Wealth Management LLC increased its holdings in shares of Limbach by 28.6% in the 3rd quarter. Accurate Wealth Management LLC now owns 3,000 shares of the construction company’s stock valued at $275,000 after purchasing an additional 667 shares during the period. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Up 0.7%

LMB opened at $82.10 on Friday. The company has a market capitalization of $958.93 million, a PE ratio of 25.34 and a beta of 1.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.44 and a quick ratio of 1.43. Limbach Holdings, Inc. has a fifty-two week low of $63.02 and a fifty-two week high of $154.05. The business has a 50-day moving average of $85.70 and a 200-day moving average of $88.97.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Monday, March 2nd. The construction company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.26 by $0.14. Limbach had a return on equity of 30.73% and a net margin of 6.04%.The business had revenue of $186.87 million during the quarter, compared to analysts’ expectations of $197.56 million. During the same quarter in the previous year, the business posted $1.15 EPS. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. Equities research analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Limbach declared that its board has authorized a share repurchase plan on Monday, December 15th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Limbach

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

Analyst Upgrades and Downgrades

LMB has been the subject of a number of research analyst reports. Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Stifel Nicolaus lowered their price objective on shares of Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. JPMorgan Chase & Co. assumed coverage on shares of Limbach in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $100.00 price objective on the stock. Wall Street Zen lowered shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.00.

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.