Limbach (NASDAQ:LMB) EVP Sells $159,980.00 in Stock

Limbach Holdings, Inc. (NASDAQ:LMB) EVP Jay Sharp sold 2,000 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $79.99, for a total transaction of $159,980.00. Following the completion of the sale, the executive vice president directly owned 79,027 shares in the company, valued at approximately $6,321,369.73. This represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Limbach Stock Performance

Shares of NASDAQ:LMB opened at $70.48 on Friday. The company has a market capitalization of $823.21 million, a price-to-earnings ratio of 21.75 and a beta of 1.32. Limbach Holdings, Inc. has a 12 month low of $63.02 and a 12 month high of $154.05. The firm’s 50-day moving average is $85.51 and its 200 day moving average is $86.09. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16.

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

Limbach announced that its Board of Directors has initiated a share buyback program on Monday, December 15th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to repurchase up to 5.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

LMB has been the topic of several research analyst reports. JPMorgan Chase & Co. initiated coverage on Limbach in a research report on Tuesday, February 3rd. They issued a “neutral” rating and a $100.00 price objective on the stock. Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Stifel Nicolaus lowered their target price on shares of Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP boosted its position in Limbach by 37.8% during the fourth quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock valued at $77,647,000 after purchasing an additional 273,818 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Limbach by 7.6% in the fourth 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 last quarter. Capital International Investors raised its holdings in Limbach by 10.7% in the third quarter. Capital International Investors now owns 645,288 shares of the construction company’s stock worth $62,670,000 after purchasing an additional 62,483 shares in the last quarter. First Trust Advisors LP raised its holdings in Limbach by 36.0% in the fourth quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock worth $34,423,000 after purchasing an additional 117,035 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Limbach by 2,041.6% during the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock valued at $56,124,000 after buying an additional 381,897 shares during the last quarter. 55.85% of the stock is currently owned by hedge funds and other 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.