Limbach (NASDAQ:LMB) Shares Up 8.5% – Still a Buy?

Limbach Holdings, Inc. (NASDAQ:LMB)’s share price was up 8.5% during mid-day trading on Wednesday . The stock traded as high as $79.90 and last traded at $80.50. Approximately 54,523 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 220,580 shares. The stock had previously closed at $74.19.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LMB shares. JPMorgan Chase & Co. decreased their target price on shares of Limbach from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Weiss Ratings cut shares of Limbach from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $116.67.

Limbach Price Performance

The business’s 50 day moving average price is $82.17 and its 200 day moving average price is $81.38. The stock has a market capitalization of $978.42 million, a P/E ratio of 29.85 and a beta of 1.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.43. Limbach had a net margin of 5.09% and a return on equity of 26.17%. The firm had revenue of $138.86 million during the quarter, compared to analyst estimates of $134.23 million. During the same period in the previous year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts forecast that Limbach Holdings, Inc. will post 4.98 EPS for the current year.

Insider Buying and Selling

In other news, CFO Jayme L. Brooks sold 3,440 shares of Limbach stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $100.00, for a total value of $344,000.00. Following the completion of the sale, the chief financial officer directly owned 125,227 shares in the company, valued at $12,522,700. The trade was a 2.67% decrease in their ownership of the stock. 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. Also, EVP Jay Sharp sold 2,000 shares of Limbach stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $79.99, for a total transaction of $159,980.00. Following the completion of the sale, the executive vice president owned 79,027 shares of the company’s stock, valued at $6,321,369.73. This represents a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 27,433 shares of company stock valued at $2,345,453 over the last quarter. Company insiders own 10.20% of the company’s stock.

Institutional Trading of Limbach

Several large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd grew its position in Limbach by 23.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock valued at $53,000 after buying an additional 130 shares during the period. Comerica Bank grew its position in Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after buying an additional 167 shares during the period. Caxton Associates LLP grew its position in Limbach by 4.9% during 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 grew its position in Limbach by 5.6% during 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 during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Limbach by 4.1% during 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 during the period. 55.85% of the stock is currently owned by institutional investors.

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.