Limbach (NASDAQ:LMB) Sets New 1-Year Low – Should You Sell?

Limbach Holdings, Inc. (NASDAQ:LMB)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $43.73 and last traded at $43.7160, with a volume of 162203 shares traded. The stock had previously closed at $45.54.

Wall Street Analysts Forecast Growth

LMB has been the topic of a number of research reports. Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Wall Street Zen cut shares of Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. Finally, Stifel Nicolaus lowered their price target on shares of Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Limbach has a consensus rating of “Hold” and an average price target of $88.00.

Limbach Price Performance

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 market capitalization of $521.58 million, a PE ratio of 17.49 and a beta of 1.45. The company has a 50-day moving average price of $72.11 and a 200-day moving average price of $79.87.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The company had revenue of $173.46 million for the quarter, compared to analysts’ expectations of $177.33 million. Sell-side analysts forecast that Limbach Holdings, Inc. will post 4.17 EPS for the current year.

Insider Activity

In other news, EVP Jay Sharp sold 4,871 shares of Limbach stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.82, for a total transaction of $388,803.22. Following the completion of the sale, the executive vice president directly owned 73,456 shares in the company, valued at $5,863,257.92. The trade was a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Limbach

Several institutional investors and hedge funds have recently modified their holdings of LMB. BlackRock Inc. acquired a new stake in shares of Limbach during the second quarter worth $75,410,000. Invesco Ltd. increased its stake in Limbach by 2,041.6% in the second 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 purchased a new position in Limbach during the second quarter worth about $24,944,381,000. Wasatch Advisors LP lifted its position in Limbach by 37.8% during the fourth quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock worth $77,647,000 after buying an additional 273,818 shares during the period. Finally, Royce & Associates LP boosted its stake in Limbach by 83.7% in the 4th quarter. Royce & Associates LP now owns 335,663 shares of the construction company’s stock worth $26,131,000 after buying an additional 152,956 shares during the last quarter. Hedge funds and other 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.