Jay Sharp Sells 4,871 Shares of Limbach (NASDAQ:LMB) Stock

Limbach Holdings, Inc. (NASDAQ:LMB) EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $79.82, for a total transaction of $388,803.22. Following the completion of the sale, the executive vice president owned 73,456 shares in the company, valued at $5,863,257.92. This represents a 6.22% decrease in their position. The sale was disclosed in a filing 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 Down 0.2%

Shares of LMB opened at $80.15 on Friday. Limbach Holdings, Inc. has a 52 week low of $65.08 and a 52 week high of $154.05. The stock has a market capitalization of $955.39 million, a price-to-earnings ratio of 29.15 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 stock has a fifty day moving average of $82.84 and a 200-day moving average of $82.36.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Tuesday, May 5th. The construction company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.43. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The business had revenue of $138.86 million for the quarter, compared to analyst estimates of $134.23 million. During the same quarter in the previous year, the company posted $1.12 EPS. Limbach’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Limbach Holdings, Inc. will post 4.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Limbach

A number of hedge funds and other institutional investors have recently made changes to their positions in LMB. Caitong International Asset Management Co. Ltd increased its position 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 valued at $53,000 after purchasing an additional 130 shares during the period. Comerica Bank boosted its stake in shares of Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Limbach in the 1st quarter valued at $85,000. State of Wyoming increased its position 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 during the period. Finally, Royal Bank of Canada raised its stake in 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 during the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LMB shares. Weiss Ratings downgraded Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Wall Street Zen cut shares of Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. dropped their price target 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. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $116.67.

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.