Limbach (NASDAQ:LMB) Issues Earnings Results, Misses Expectations By $0.29 EPS

Limbach (NASDAQ:LMBGet Free Report) released its quarterly earnings results on Tuesday. The construction company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.29), FiscalAI reports. The company had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million. Limbach had a net margin of 5.09% and a return on equity of 26.17%.

Limbach Stock Up 5.1%

Shares of NASDAQ LMB traded up $3.74 during mid-day trading on Tuesday, hitting $76.99. 296,264 shares of the stock traded hands, compared to its average volume of 227,971. The company has a market cap of $917.72 million, a price-to-earnings ratio of 28.00 and a beta of 1.45. The stock has a fifty day moving average price of $77.49 and a 200-day moving average price of $82.00. Limbach has a 52 week low of $65.08 and a 52 week high of $138.11. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71.

Analyst Upgrades and Downgrades

LMB has been the subject of several research analyst reports. 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 cut shares of Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Limbach currently has an average rating of “Hold” and an average price target of $97.00.

Get Our Latest Report on LMB

Insider Transactions at Limbach

In other Limbach 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 completion of the transaction, the executive vice president owned 73,456 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.00% of the company’s stock.

Institutional Trading of Limbach

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Graham Capital Management L.P. boosted its stake in Limbach by 12.1% during the fourth quarter. Graham Capital Management L.P. now owns 2,873 shares of the construction company’s stock worth $224,000 after acquiring an additional 310 shares in the last quarter. MML Investors Services LLC bought a new position in shares of Limbach during the fourth quarter valued at approximately $216,000. Man Group plc increased its stake in shares of Limbach by 49.7% during the third quarter. Man Group plc now owns 2,511 shares of the construction company’s stock valued at $244,000 after purchasing an additional 834 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Limbach by 94.1% during the third quarter. BNP Paribas Financial Markets now owns 2,195 shares of the construction company’s stock valued at $213,000 after purchasing an additional 1,064 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Limbach during the third quarter valued at approximately $275,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Limbach (NASDAQ:LMB)

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