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

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) shot up 8.5% during trading on Wednesday . The stock traded as high as $79.90 and last traded at $80.50. 54,523 shares were traded during trading, a decline of 75% from the average session volume of 220,580 shares. The stock had previously closed at $74.19.

Analyst Ratings Changes

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

Limbach Stock Performance

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

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share (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 business had revenue of $138.86 million for the quarter, compared to analyst estimates of $134.23 million. During the same quarter last year, the firm earned $1.12 EPS. The company’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts expect that Limbach Holdings, Inc. will post 4.98 earnings per share for the current year.

Insider Activity

In other news, CFO Jayme L. Brooks sold 3,440 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $12,522,700. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jay Sharp sold 2,000 shares of the firm’s stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 27,433 shares of company stock valued at $2,345,453. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its position in Limbach by 23.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock valued at $53,000 after acquiring an additional 130 shares during the period. Comerica Bank raised its holdings in Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after buying an additional 167 shares during the last quarter. Caxton Associates LLP raised its holdings in 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 last quarter. The Manufacturers Life Insurance Company raised its holdings in Limbach by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company’s stock worth $537,000 after buying an additional 204 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 worth $451,000 after buying an additional 241 shares during the last quarter. 55.85% of the stock is owned by hedge funds and other 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.