Limbach (NASDAQ:LMB) Trading Up 6.4% – Time to Buy?

Limbach Holdings, Inc. (NASDAQ:LMB)’s share price traded up 6.4% during trading on Wednesday . The stock traded as high as $47.83 and last traded at $47.6540. 237,765 shares were traded during trading, a decline of 10% from the average session volume of 263,191 shares. The stock had previously closed at $44.79.

Analysts Set New Price Targets

Several analysts recently issued reports on LMB shares. Royal Bank Of Canada set a $50.00 price objective on Limbach in a report on Friday, August 21st. JPMorgan Chase & Co. lowered Limbach from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $60.00 to $50.00 in a research report on Friday, August 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. Stifel Nicolaus lowered their price target on Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Finally, Lake Street Capital increased their price objective on Limbach from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Limbach has an average rating of “Hold” and an average target price of $70.25.

Limbach Price Performance

The stock has a 50 day moving average of $63.10 and a two-hundred day moving average of $76.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market capitalization of $578.17 million, a P/E ratio of 19.35 and a beta of 1.45.

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

Insider Buying and Selling

In related news, EVP Jay Sharp sold 4,871 shares of Limbach stock in a transaction on Monday, June 15th. The shares were sold at an average price of $79.82, for a total value of $388,803.22. Following the transaction, the executive vice president owned 73,456 shares in the company, valued at $5,863,257.92. This trade represents a 6.22% decrease in their position. 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 owned by company insiders.

Hedge Funds Weigh In On Limbach

A number of institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP boosted its stake in 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 during the period. BlackRock Inc. bought a new position in Limbach in the 2nd quarter worth approximately $75,410,000. California State Teachers Retirement System lifted its holdings in shares of Limbach by 8,693.2% during the second quarter. California State Teachers Retirement System now owns 901,131 shares of the construction company’s stock worth $69,387,000 after buying an additional 890,883 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Limbach by 7.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company’s stock worth $61,550,000 after buying an additional 55,511 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Limbach by 36.0% in the fourth quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock valued at $34,423,000 after acquiring an additional 117,035 shares during the period. 55.85% of the stock is currently owned by institutional investors.

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.