Limbach Holdings, Inc. $LMB Stock Position Cut by Vanguard Group Inc.

Vanguard Group Inc. decreased its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 626,026 shares of the construction company’s stock after selling 7,060 shares during the period. Vanguard Group Inc. owned approximately 5.38% of Limbach worth $60,800,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in shares of Limbach by 353.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock worth $71,395,000 after acquiring an additional 573,136 shares during the period. Invesco Ltd. increased its stake 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 acquiring an additional 381,897 shares during the period. First Trust Advisors LP increased its stake in shares of Limbach by 1,192.1% during the second quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock valued at $57,606,000 after acquiring an additional 379,357 shares during the period. Wasatch Advisors LP raised its holdings in Limbach by 59.2% during the second quarter. Wasatch Advisors LP now owns 638,879 shares of the construction company’s stock worth $89,507,000 after purchasing an additional 237,475 shares in the last quarter. Finally, Makaira Partners LLC acquired a new stake in Limbach in the second quarter worth approximately $7,319,000. 55.85% of the stock is currently owned by institutional investors.

Insider Activity at Limbach

In other news, insider Jay Sharp sold 2,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $77.98, for a total transaction of $155,960.00. Following the completion of the sale, the insider directly owned 64,979 shares of the company’s stock, valued at $5,067,062.42. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.70% of the stock is currently owned by corporate insiders.

Limbach Trading Up 0.7%

Limbach stock opened at $82.10 on Friday. The firm has a market cap of $958.93 million, a price-to-earnings ratio of 25.34 and a beta of 1.32. Limbach Holdings, Inc. has a 1 year low of $63.02 and a 1 year high of $154.05. The firm’s 50 day moving average price is $85.70 and its two-hundred day moving average price is $88.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.43 and a current ratio of 1.44.

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

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. started coverage on Limbach in a research note on Tuesday, February 3rd. They set a “neutral” rating and a $100.00 price target for the company. Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen cut Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus lowered their target price on Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Limbach currently has an average rating of “Moderate Buy” and an average target price of $120.00.

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.