Limbach (NASDAQ:LMB) Shares Gap Down – Time to Sell?

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) gapped down before the market opened on Wednesday . The stock had previously closed at $81.67, but opened at $79.12. Limbach shares last traded at $80.8350, with a volume of 42,127 shares.

Analyst Ratings Changes

LMB has been the topic of several research analyst reports. Wall Street Zen cut shares of Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus lowered their target price on Limbach from $119.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Zacks Research raised Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Limbach currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.50.

Limbach Trading Down 2.5%

The firm has a market capitalization of $982.62 million, a P/E ratio of 20.39 and a beta of 1.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of $76.12 and a 200-day moving average of $99.73.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). The company had revenue of $184.58 million for the quarter, compared to the consensus estimate of $184.48 million. Limbach had a return on equity of 30.80% and a net margin of 6.06%.Limbach’s revenue was up 37.8% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. On average, equities research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Limbach declared that its board has approved a stock repurchase plan on Monday, December 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 5.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction that occurred 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 transaction, the insider directly owned 64,979 shares of the company’s stock, valued at $5,067,062.42. This trade represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Limbach

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank raised its position in Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares during the last quarter. Caxton Associates LLP increased its stake 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 valued at $352,000 after buying an additional 168 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Limbach by 5.6% in the 2nd 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 during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Limbach during the 2nd quarter worth approximately $32,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Limbach by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock worth $451,000 after acquiring an additional 241 shares during the last quarter. Institutional investors own 55.85% of the company’s stock.

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.