Limbach Holdings, Inc. (NASDAQ:LMB) Given Average Rating of “Hold” by Brokerages

Limbach Holdings, Inc. (NASDAQ:LMB) has been assigned a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $62.00.

Several equities research analysts have issued reports on LMB shares. JPMorgan Chase & Co. downgraded shares of Limbach from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $60.00 to $50.00 in a research report on Friday, August 21st. Lake Street Capital restated a “buy” rating on shares of Limbach in a research note on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. Wall Street Zen cut shares of Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada set a $50.00 price objective on shares of Limbach in a research note on Friday, August 21st.

Insider Buying and Selling at Limbach

In other news, EVP Jay Sharp sold 4,871 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $79.82, for a total transaction of $388,803.22. Following the sale, the executive vice president directly owned 73,456 shares of the company’s stock, valued at approximately $5,863,257.92. This represents a 6.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Limbach

Several hedge funds and other institutional investors have recently made changes to their positions in LMB. BlackRock Inc. bought a new position in Limbach in the second quarter valued at approximately $75,410,000. California State Teachers Retirement System grew its holdings in shares of Limbach by 8,693.2% during the 2nd quarter. California State Teachers Retirement System now owns 901,131 shares of the construction company’s stock valued at $69,387,000 after purchasing an additional 890,883 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Limbach by 2,041.6% during the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock valued at $56,124,000 after purchasing an additional 381,897 shares during the last quarter. Neumeier Poma Investment Counsel LLC acquired a new position in Limbach during the 2nd quarter worth approximately $24,944,381. Finally, Wasatch Advisors LP lifted its stake in Limbach by 37.8% in the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock valued at $77,647,000 after purchasing an additional 273,818 shares during the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Stock Performance

Limbach stock traded up $2.73 during mid-day trading on Wednesday, hitting $47.52. 81,255 shares of the company’s stock traded hands, compared to its average volume of 262,087. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a 50 day simple moving average of $63.10 and a two-hundred day simple moving average of $76.16. Limbach has a fifty-two week low of $40.74 and a fifty-two week high of $114.95. The stock has a market cap of $566.62 million, a price-to-earnings ratio of 18.83 and a beta of 1.45.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.29). The company had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. On average, research analysts expect that Limbach will post 4.17 EPS for the current fiscal year.

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.