Limbach (NASDAQ:LMB) Hits New 1-Year Low on Disappointing Earnings

Limbach Holdings, Inc. (NASDAQ:LMB) shares reached a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $53.57 and last traded at $56.34, with a volume of 265776 shares. The stock had previously closed at $77.11.

The construction company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29). Limbach had a net margin of 5.09% and a return on equity of 26.17%. The firm had revenue of $173.46 million during the quarter, compared to analysts’ expectations of $177.33 million.

Analysts Set New Price Targets

Several equities analysts have weighed in on LMB shares. Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research note 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $97.00.

Insider Activity

In other news, EVP Jay Sharp sold 4,871 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.82, for a total transaction 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. The trade was a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 Investors Weigh In On Limbach

A number of large investors have recently modified their holdings of LMB. Wasatch Advisors LP lifted its position in shares of Limbach by 37.8% during the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock worth $77,647,000 after purchasing an additional 273,818 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings 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 acquiring an additional 55,511 shares during the last quarter. First Trust Advisors LP raised its position in shares of Limbach by 36.0% during the 4th quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock worth $34,423,000 after acquiring an additional 117,035 shares in the last quarter. Invesco Ltd. raised its position in shares of Limbach by 2,041.6% during the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock worth $56,124,000 after acquiring an additional 381,897 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in Limbach by 83.7% during the fourth quarter. Royce & Associates LP now owns 335,663 shares of the construction company’s stock worth $26,131,000 after purchasing an additional 152,956 shares during the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Stock Performance

The firm has a 50 day moving average of $77.55 and a two-hundred day moving average of $81.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a market cap of $666.21 million, a PE ratio of 20.32 and a beta of 1.45.

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.