Limbach (NASDAQ:LMB) Releases Quarterly Earnings Results, Beats Expectations By $0.43 EPS

Limbach (NASDAQ:LMB) released its quarterly earnings data on Tuesday. The construction company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.43, Zacks reports. Limbach had a return on equity of 26.67% and a net margin of 5.09%.The company had revenue of $138.86 million for the quarter, compared to the consensus estimate of $134.23 million. During the same quarter last year, the business posted $1.12 EPS. Limbach’s revenue for the quarter was up 4.3% on a year-over-year basis.

Limbach Trading Down 4.0%

NASDAQ:LMB traded down $3.05 during trading hours on Thursday, hitting $73.93. 348,896 shares of the company were exchanged, compared to its average volume of 199,533. The stock has a market capitalization of $881.19 million, a price-to-earnings ratio of 26.86 and a beta of 1.54. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16. Limbach has a one year low of $65.08 and a one year high of $154.05. The company has a fifty day simple moving average of $85.75 and a 200 day simple moving average of $83.44.

Analysts Set New Price Targets

Several research firms recently weighed in on LMB. JPMorgan Chase & Co. cut their price objective on Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Stifel Nicolaus cut their price objective on Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $116.67.

Insider Buying and Selling at Limbach

In related news, CFO Jayme L. Brooks sold 9,910 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $78.56, for a total transaction of $778,529.60. Following the completion of the transaction, the chief financial officer directly owned 140,750 shares of the company’s stock, valued at $11,057,320. This trade represents a 6.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jay Sharp sold 2,000 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $79.99, for a total value of $159,980.00. Following the transaction, the executive vice president directly owned 79,027 shares of the company’s stock, valued at approximately $6,321,369.73. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 27,433 shares of company stock valued at $2,345,453. 9.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP raised its position in shares of Limbach by 37.8% in the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock worth $77,647,000 after acquiring an additional 273,818 shares in the last quarter. First Trust Advisors LP raised its position in shares of Limbach by 36.0% in the 4th quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock worth $34,423,000 after acquiring an additional 117,035 shares in the last quarter. Invesco Ltd. raised its position in shares of Limbach by 2,041.6% in the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock worth $56,124,000 after acquiring an additional 381,897 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Limbach by 2.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock worth $21,583,000 after acquiring an additional 7,771 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Limbach by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 279,862 shares of the construction company’s stock worth $27,178,000 after acquiring an additional 3,708 shares in the last quarter. 55.85% of the stock is 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.