Insider Selling: Limbach (NASDAQ:LMB) CFO Sells 9,910 Shares of Stock

Limbach Holdings, Inc. (NASDAQ:LMB) CFO Jayme Brooks sold 9,910 shares of Limbach stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $78.56, for a total value of $778,529.60. Following the transaction, the chief financial officer directly owned 140,750 shares in the company, valued at approximately $11,057,320. The trade was a 6.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Limbach Stock Down 1.8%

NASDAQ LMB traded down $1.40 on Wednesday, reaching $75.74. The company had a trading volume of 209,667 shares, compared to its average volume of 174,071. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average is $85.77 and its 200 day moving average is $86.57. Limbach Holdings, Inc. has a 52-week low of $63.02 and a 52-week high of $154.05. The stock has a market capitalization of $884.64 million, a P/E ratio of 23.38 and a beta of 1.32.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Monday, March 2nd. The construction company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.14. Limbach had a net margin of 6.04% and a return on equity of 30.73%. The firm had revenue of $186.87 million for the quarter, compared to the consensus estimate of $197.56 million. During the same period in the previous year, the firm earned $1.15 EPS. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. Sell-side analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Limbach declared that its board has authorized a share repurchase plan on Monday, December 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 5.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Limbach

Several hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its stake in Limbach by 51.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 843 shares of the construction company’s stock valued at $66,000 after acquiring an additional 286 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Limbach by 109.7% in the 4th quarter. XTX Topco Ltd now owns 8,004 shares of the construction company’s stock worth $623,000 after purchasing an additional 4,187 shares during the period. Stokes Family Office LLC bought a new stake in shares of Limbach in the 4th quarter worth approximately $229,000. Voloridge Investment Management LLC purchased a new position in Limbach in the fourth quarter valued at approximately $1,158,000. Finally, Millennium Management LLC lifted its stake in Limbach by 9.8% in the fourth quarter. Millennium Management LLC now owns 49,758 shares of the construction company’s stock valued at $3,874,000 after purchasing an additional 4,455 shares during the last quarter. Institutional investors own 55.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LMB shares. Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. JPMorgan Chase & Co. assumed coverage on Limbach in a report on Tuesday, February 3rd. They set a “neutral” rating and a $100.00 price target on the stock. Finally, Stifel Nicolaus cut their price objective on Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Limbach presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

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.