Limbach (NASDAQ:LMB) Announces Earnings Results

Limbach (NASDAQ:LMB) released its quarterly earnings results on Tuesday. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.43, Zacks reports. Limbach had a net margin of 6.04% and a return on equity of 30.73%. The company had revenue of $138.86 million during the quarter, compared to analysts’ expectations of $134.23 million.

Limbach Price Performance

NASDAQ:LMB traded up $11.82 during mid-day trading on Tuesday, hitting $114.11. The company’s stock had a trading volume of 309,296 shares, compared to its average volume of 185,169. Limbach has a fifty-two week low of $65.08 and a fifty-two week high of $154.05. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 35.22 and a beta of 1.54. The stock has a fifty day moving average of $85.74 and a 200-day moving average of $83.45.

Insider Activity

In related news, CFO Jayme L. Brooks sold 9,910 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $78.56, for a total value of $778,529.60. Following the completion of the transaction, the chief financial officer owned 140,750 shares of the company’s stock, valued at $11,057,320. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jay Sharp sold 2,000 shares of the 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 transaction, the executive vice president directly owned 79,027 shares of the company’s stock, valued at $6,321,369.73. This trade represents a 2.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,433 shares of company stock valued at $2,345,453 in the last three months. Company insiders own 9.70% of the company’s stock.

Institutional Trading of Limbach

Several hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its holdings in shares of Limbach by 23.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after buying an additional 130 shares in the last quarter. Comerica Bank increased its holdings in shares of Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after buying an additional 167 shares in the last quarter. Caxton Associates LLP increased its holdings in shares of Limbach by 4.9% during 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 in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Limbach by 5.6% during 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 worth $451,000 after buying an additional 241 shares in the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LMB shares. Stifel Nicolaus decreased their price target on shares of Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a report on Monday, January 26th. JPMorgan Chase & Co. decreased their price target 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. Finally, Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.67.

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.