Analysts Set Limbach Holdings, Inc. (NASDAQ:LMB) PT at $116.67

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $116.6667.

Several equities research analysts recently weighed in on LMB shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Stifel Nicolaus lowered their price target on shares of Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Limbach from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, March 26th.

Insiders Place Their Bets

In other Limbach news, EVP Jay Sharp sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $79.99, for a total value of $159,980.00. Following the completion of the transaction, the executive vice president owned 79,027 shares in the company, valued at $6,321,369.73. This trade represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jayme L. Brooks sold 9,910 shares of Limbach stock in a transaction dated 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 of the company’s stock, valued at $11,057,320. The trade was a 6.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Limbach

A number of large investors have recently modified their holdings of the company. Thrivent Financial for Lutherans grew its stake in Limbach by 353.8% during the third quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock valued at $71,395,000 after acquiring an additional 573,136 shares in the last quarter. Invesco Ltd. boosted its holdings in Limbach by 2,041.6% in the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock valued at $56,124,000 after purchasing an additional 381,897 shares during the period. First Trust Advisors LP boosted its holdings in Limbach by 1,192.1% in the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock valued at $57,606,000 after purchasing an additional 379,357 shares during the period. Wasatch Advisors LP grew 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 valued at $77,647,000 after purchasing an additional 273,818 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC grew its position in shares of Limbach by 151.5% during 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 purchasing an additional 191,685 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors.

Limbach Trading Up 0.3%

Shares of LMB stock opened at $80.42 on Friday. 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 firm has a market cap of $939.31 million, a P/E ratio of 24.82 and a beta of 1.44. The company has a 50 day moving average of $84.73 and a 200-day moving average of $84.40. Limbach has a 12-month low of $63.02 and a 12-month high of $154.05.

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

Limbach announced that its board has initiated a stock repurchase program on Monday, December 15th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.