TD Asset Management Inc Buys 8,520 Shares of Limbach Holdings, Inc. $LMB

TD Asset Management Inc grew its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 360.7% during the third quarter, HoldingsChannel reports. The firm owned 10,882 shares of the construction company’s stock after purchasing an additional 8,520 shares during the quarter. TD Asset Management Inc’s holdings in Limbach were worth $1,057,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Comerica Bank boosted its position in shares of Limbach by 24.0% in 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. BNP Paribas Financial Markets raised its position in Limbach by 59.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock worth $158,000 after buying an additional 423 shares during the last quarter. SG Americas Securities LLC lifted its position in Limbach by 85.0% during 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 during the period. Prudential Financial Inc. bought a new position in shares of Limbach during the 2nd quarter valued at $256,000. Finally, Brevan Howard Capital Management LP purchased a new position in Limbach in the second quarter worth about $278,000. Institutional investors own 55.85% of the company’s stock.

Limbach Stock Performance

NASDAQ LMB opened at $81.51 on Friday. The stock has a fifty day simple moving average of $85.65 and a 200-day simple moving average of $89.20. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.16. The stock has a market cap of $952.04 million, a PE ratio of 25.16 and a beta of 1.32. Limbach Holdings, Inc. has a twelve month low of $63.02 and a twelve month high of $154.05.

Limbach (NASDAQ:LMB) last announced its earnings results on Monday, March 2nd. The construction company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.14. Limbach had a return on equity of 30.73% and a net margin of 6.04%.The company had revenue of $186.87 million for the quarter, compared to analyst estimates of $197.56 million. During the same quarter in the previous year, the company earned $1.15 earnings per share. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. 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 stock buyback program on Monday, December 15th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Limbach

In related news, insider Jay Sharp sold 2,000 shares of Limbach 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 transaction, the insider owned 64,979 shares in the company, valued at approximately $5,067,062.42. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Limbach 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.