Hsbc Holdings PLC Takes Position in Limbach Holdings, Inc. $LMB

Hsbc Holdings PLC acquired a new position in Limbach Holdings, Inc. (NASDAQ:LMB) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,062 shares of the construction company’s stock, valued at approximately $627,000. Hsbc Holdings PLC owned 0.07% of Limbach as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in Limbach by 23.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after purchasing an additional 130 shares during the period. Comerica Bank raised its position in shares of Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after buying an additional 167 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Limbach by 34.5% in the fourth quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock worth $113,000 after buying an additional 371 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Limbach in the fourth quarter worth $150,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Limbach by 59.7% during the second quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock worth $158,000 after acquiring an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Limbach from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.00.

Insider Buying and Selling at Limbach

In other news, EVP Jay Sharp sold 4,871 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.82, for a total transaction of $388,803.22. Following the sale, the executive vice president directly owned 73,456 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is currently owned by company insiders.

Limbach Trading Up 3.3%

LMB stock opened at $69.90 on Friday. The firm has a fifty day moving average price of $77.45 and a 200 day moving average price of $82.14. Limbach Holdings, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $141.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market cap of $833.21 million, a PE ratio of 25.42 and a beta of 1.43.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.43. Limbach had a net margin of 5.09% and a return on equity of 26.17%. The company had revenue of $138.86 million for the quarter, compared to the consensus estimate of $134.23 million. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Limbach’s revenue was up 4.3% on a year-over-year basis. Sell-side analysts anticipate that Limbach Holdings, Inc. will post 4.98 earnings per share for the current fiscal year.

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.