Wasatch Advisors LP Trims Stake in Limbach Holdings, Inc. $LMB

Wasatch Advisors LP trimmed its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 60.7% in the second quarter, Holdings Channel reports. The firm owned 380,863 shares of the construction company’s stock after selling 588,776 shares during the period. Wasatch Advisors LP’s holdings in Limbach were worth $29,326,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LMB. Caitong International Asset Management Co. Ltd lifted its stake in Limbach by 23.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after acquiring an additional 130 shares in the last quarter. Comerica Bank raised its holdings in shares of Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Limbach during the 1st quarter worth about $85,000. State of Wyoming lifted its stake in Limbach by 131.4% during the first quarter. State of Wyoming now owns 1,444 shares of the construction company’s stock worth $113,000 after purchasing an additional 820 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of Limbach by 34.5% in the 4th quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock valued at $113,000 after buying an additional 371 shares during the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Limbach

In other news, EVP Jay Sharp sold 4,871 shares of the business’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 transaction, the executive vice president directly owned 73,456 shares in the company, valued at $5,863,257.92. The trade was a 6.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LMB. Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. Stifel Nicolaus lowered their price objective on shares of Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday. Zacks Research lowered shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut shares of Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $88.00.

Limbach Price Performance

Limbach stock opened at $44.95 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50 day simple moving average of $73.61 and a 200-day simple moving average of $80.39. Limbach Holdings, Inc. has a 12 month low of $44.50 and a 12 month high of $128.57. The stock has a market capitalization of $536.25 million, a PE ratio of 17.98 and a beta of 1.45.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29). The firm had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. Equities analysts predict that Limbach Holdings, Inc. will post 4.17 earnings per share for the current year.

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.