Expect Equity LLC Acquires Shares of 34,587 Limbach Holdings, Inc. $LMB

Expect Equity LLC acquired a new position in Limbach Holdings, Inc. (NASDAQ:LMB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,587 shares of the construction company’s stock, valued at approximately $2,663,000. Limbach makes up 1.7% of Expect Equity LLC’s investment portfolio, making the stock its 23rd biggest position.

A number of other large investors have also recently modified their holdings of LMB. Wasatch Advisors LP increased its position in shares of Limbach by 37.8% during the fourth quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock valued at $77,647,000 after buying an additional 273,818 shares during the period. BlackRock Inc. purchased a new stake in Limbach in the second quarter worth about $75,410,000. Thrivent Financial for Lutherans lifted its holdings in Limbach by 7.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company’s stock worth $61,550,000 after buying an additional 55,511 shares during the period. First Trust Advisors LP boosted its position in Limbach by 36.0% during the 4th quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock valued at $34,423,000 after acquiring an additional 117,035 shares in the last quarter. Finally, Invesco Ltd. boosted its position in 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 acquiring an additional 381,897 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

Insider Activity 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LMB. Stifel Nicolaus decreased their target price on Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Zacks Research cut Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. Wall Street Zen lowered Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. cut shares of Limbach from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $60.00 to $50.00 in a report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $62.00.

Limbach Price Performance

LMB stock opened at $41.91 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a 50 day moving average price of $66.95 and a 200-day moving average price of $77.81. Limbach Holdings, Inc. has a 52-week low of $41.59 and a 52-week high of $128.57. The firm has a market capitalization of $499.99 million, a price-to-earnings ratio of 16.76 and a beta of 1.45.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results 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). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The company had revenue of $173.46 million during the quarter, compared to analysts’ expectations of $177.33 million. Equities research analysts forecast that Limbach Holdings, Inc. will post 4.17 EPS for the current fiscal year.

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.