WCM Investment Management LLC Takes $6.07 Million Position in Limbach Holdings, Inc. $LMB

WCM Investment Management LLC acquired a new position in shares of Limbach Holdings, Inc. (NASDAQ:LMB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 78,381 shares of the construction company’s stock, valued at approximately $6,067,000.

Several other institutional investors have also made changes to their positions in the business. Thrivent Financial for Lutherans grew its stake in shares of Limbach by 7.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company’s stock valued at $61,550,000 after purchasing an additional 55,511 shares during the period. Royce & Associates LP lifted its position in shares of Limbach by 83.7% during the 4th quarter. Royce & Associates LP now owns 335,663 shares of the construction company’s stock worth $26,131,000 after buying an additional 152,956 shares during the period. UBS Group AG lifted its position in shares of Limbach by 23.7% during the 4th quarter. UBS Group AG now owns 60,874 shares of the construction company’s stock worth $4,739,000 after buying an additional 11,644 shares during the period. Neumeier Poma Investment Counsel LLC boosted its stake in Limbach by 151.5% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 318,238 shares of the construction company’s stock valued at $24,775,000 after buying an additional 191,685 shares in the last quarter. Finally, Expect Equity LLC boosted its stake in Limbach by 98.8% in the 4th quarter. Expect Equity LLC now owns 28,511 shares of the construction company’s stock valued at $2,220,000 after buying an additional 14,169 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on LMB. JPMorgan Chase & Co. dropped their price objective on 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 downgraded shares of Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Limbach from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $97.00.

Insiders Place Their Bets

In other news, EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $79.82, for a total value of $388,803.22. Following the completion of the sale, the executive vice president directly owned 73,456 shares in the company, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jayme L. Brooks sold 3,440 shares of Limbach stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $100.00, for a total value of $344,000.00. Following the completion of the transaction, the chief financial officer directly owned 125,227 shares of the company’s stock, valued at $12,522,700. This represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 10,484 shares of company stock valued at $950,212. 7.00% of the stock is currently owned by corporate insiders.

Limbach Stock Up 1.5%

NASDAQ LMB opened at $73.83 on Tuesday. The stock’s 50 day simple moving average is $77.57 and its 200 day simple moving average is $82.50. Limbach Holdings, Inc. has a one year low of $65.08 and a one year high of $141.18. The firm has a market cap of $880.05 million, a PE ratio of 26.85 and a beta of 1.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71.

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