Limbach Holdings, Inc. (NASDAQ:LMB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have been assigned an average recommendation of “Hold” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $116.6667.

Several analysts have recently commented on LMB shares. JPMorgan Chase & Co. reduced their target price on shares of Limbach from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Wall Street Zen cut shares of Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings cut shares of Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th.

Limbach Stock Down 0.5%

LMB stock opened at $81.85 on Wednesday. Limbach has a one year low of $65.08 and a one year high of $154.05. The stock has a market capitalization of $975.65 million, a PE ratio of 29.76 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71. The company has a fifty day moving average of $82.85 and a 200-day moving average of $81.84.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, May 5th. The construction company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.21 by $0.43. Limbach had a net margin of 5.09% and a return on equity of 26.17%. The company had revenue of $138.86 million during the quarter, compared to analysts’ expectations of $134.23 million. During the same quarter last year, the business earned $1.12 EPS. The business’s revenue was up 4.3% on a year-over-year basis. As a group, analysts expect that Limbach will post 4.98 EPS for the current year.

Insider Activity

In other news, CFO Jayme L. Brooks sold 9,910 shares of Limbach stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $78.56, for a total transaction of $778,529.60. Following the completion of the sale, the chief financial officer directly owned 140,750 shares in the company, valued at $11,057,320. The trade was a 6.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jay Sharp sold 2,000 shares of Limbach 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 sale, the executive vice president owned 79,027 shares of the company’s stock, valued at approximately $6,321,369.73. This trade represents a 2.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,433 shares of company stock valued at $2,345,453 over the last 90 days. 7.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Limbach

A number of hedge funds and other institutional investors have recently modified their holdings of LMB. Caitong International Asset Management Co. Ltd grew its holdings in shares of Limbach by 23.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after buying an additional 130 shares in the last quarter. Comerica Bank grew its holdings in shares of Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after buying an additional 167 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Limbach during the first quarter worth about $85,000. State of Wyoming grew its holdings in shares of Limbach by 131.4% during the first quarter. State of Wyoming now owns 1,444 shares of the construction company’s stock worth $113,000 after buying an additional 820 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Limbach by 34.5% during the fourth quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock worth $113,000 after buying an additional 371 shares in the last quarter. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

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.