Limbach Holdings, Inc. (NASDAQ:LMB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Limbach Holdings, Inc. (NASDAQ:LMB) has received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $120.00.

A number of analysts have recently commented on LMB shares. JPMorgan Chase & Co. began coverage on Limbach in a report on Tuesday, February 3rd. They set a “neutral” rating and a $100.00 price objective for the company. Stifel Nicolaus lowered their price target on Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Wall Street Zen downgraded Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th.

Limbach Stock Performance

NASDAQ:LMB opened at $91.42 on Monday. The company has a market cap of $1.06 billion, a P/E ratio of 30.07 and a beta of 1.31. The firm’s 50 day moving average is $85.19 and its two-hundred day moving average is $89.64. Limbach has a fifty-two week low of $63.02 and a fifty-two week high of $154.05. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31.

Limbach declared that its Board of Directors has authorized a share repurchase plan on Monday, December 15th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 5.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $77.98, for a total value of $155,960.00. Following the completion of the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.20% of the stock is owned by insiders.

Institutional Trading of Limbach

A number of institutional investors have recently added to or reduced their stakes in LMB. Caitong International Asset Management Co. Ltd increased its holdings 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 valued at $53,000 after purchasing an additional 130 shares in the last quarter. Comerica Bank lifted its stake in shares of Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after purchasing an additional 167 shares in the last quarter. Caxton Associates LLP boosted its position in shares of Limbach by 4.9% in the third quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock worth $352,000 after buying an additional 168 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Limbach by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company’s stock valued at $537,000 after buying an additional 204 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Limbach by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock valued at $451,000 after buying an additional 241 shares in the last quarter. 55.85% of the stock is owned by hedge funds and other 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.