Shares of Limbach Holdings, Inc. (NASDAQ:LMB – Get Free Report) have earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $116.6667.
A number of brokerages have weighed in on LMB. Wall Street Zen lowered Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their price target on Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th.
Get Our Latest Analysis on LMB
Limbach Price Performance
Limbach (NASDAQ:LMB – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.43. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The company had revenue of $138.86 million for the quarter, compared to analyst estimates of $134.23 million. During the same quarter in the prior year, the company posted $1.12 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts expect that Limbach will post 4.98 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Limbach news, CFO Jayme L. Brooks sold 3,440 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $100.00, for a total value of $344,000.00. Following the transaction, the chief financial officer directly owned 125,227 shares of the company’s stock, valued at $12,522,700. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 shares were sold at an average price of $79.99, for a total value of $159,980.00. Following the completion of the transaction, the executive vice president directly owned 79,027 shares in the company, valued at $6,321,369.73. This trade represents a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 27,433 shares of company stock valued at $2,345,453. Insiders own 7.00% of the company’s stock.
Institutional Trading of Limbach
Several large investors have recently modified their holdings of LMB. Comerica Bank grew its stake in shares of Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after acquiring an additional 167 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Limbach by 5.5% during the first quarter. AQR Capital Management LLC now owns 16,903 shares of the construction company’s stock valued at $1,259,000 after acquiring an additional 876 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 valued at $451,000 after acquiring an additional 241 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Limbach by 2.8% during the first quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock valued at $21,583,000 after acquiring an additional 7,771 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Limbach during the second quarter valued at about $421,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.
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.
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