Limbach (NASDAQ:LMB) Releases Quarterly Earnings Results, Misses Expectations By $0.29 EPS

Limbach (NASDAQ:LMB) released its quarterly earnings data on Tuesday. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29), FiscalAI reports. The business had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million. Limbach had a net margin of 5.09% and a return on equity of 26.17%.

Limbach Price Performance

LMB traded up $3.74 during midday trading on Tuesday, reaching $76.99. 297,268 shares of the company’s stock were exchanged, compared to its average volume of 227,971. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The business has a 50-day simple moving average of $77.49 and a two-hundred day simple moving average of $82.00. The firm has a market capitalization of $917.72 million, a price-to-earnings ratio of 28.00 and a beta of 1.45. Limbach has a one year low of $65.08 and a one year high of $138.11.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LMB shares. Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $97.00.

Insider Activity

In other news, EVP Jay Sharp sold 4,871 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 73,456 shares of the company’s stock, valued at approximately $5,863,257.92. This represents a 6.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.00% of the company’s stock.

Institutional Trading of Limbach

A number of large investors have recently bought and sold shares of the stock. XTX Topco Ltd raised its stake in Limbach by 109.7% during the fourth quarter. XTX Topco Ltd now owns 8,004 shares of the construction company’s stock worth $623,000 after acquiring an additional 4,187 shares in the last quarter. Stokes Family Office LLC acquired a new stake in shares of Limbach in the 4th quarter valued at $229,000. Voloridge Investment Management LLC acquired a new stake in shares of Limbach in the 4th quarter valued at $1,158,000. Millennium Management LLC grew its holdings in shares of Limbach by 9.8% in the 4th quarter. Millennium Management LLC now owns 49,758 shares of the construction company’s stock worth $3,874,000 after purchasing an additional 4,455 shares during the last quarter. Finally, Man Group plc increased its position in shares of Limbach by 397.1% during the 4th quarter. Man Group plc now owns 12,483 shares of the construction company’s stock worth $972,000 after purchasing an additional 9,972 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors.

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.