Insider Selling: Limbach (NASDAQ:LMB) EVP Sells $388,803.22 in Stock

Limbach Holdings, Inc. (NASDAQ:LMB) EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Limbach Stock Performance

Shares of LMB opened at $80.15 on Friday. The company has a market capitalization of $955.47 million, a PE ratio of 29.15 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71. Limbach Holdings, Inc. has a one year low of $65.08 and a one year high of $154.05. The company’s fifty day moving average price is $82.76 and its 200 day moving average price is $82.35.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.43. The company had revenue of $138.86 million during the quarter, compared to analysts’ expectations of $134.23 million. Limbach had a net margin of 5.09% and a return on equity of 26.17%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 earnings per share. As a group, analysts expect that Limbach Holdings, Inc. will post 4.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Wall Street Zen lowered Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings cut Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $116.67.

Institutional Investors Weigh In On Limbach

Several hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans increased its stake in Limbach by 7.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company’s stock valued at $61,550,000 after acquiring an additional 55,511 shares during the period. Capital International Investors lifted its position in shares of Limbach by 10.7% in the 3rd quarter. Capital International Investors now owns 645,288 shares of the construction company’s stock worth $62,670,000 after acquiring an additional 62,483 shares during the period. Royce & Associates LP lifted its position in shares of 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 acquiring an additional 152,956 shares during the period. UBS Group AG grew its holdings in shares of Limbach by 23.7% during the 4th quarter. UBS Group AG now owns 60,874 shares of the construction company’s stock worth $4,739,000 after purchasing an additional 11,644 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC increased its position in shares of Limbach by 151.5% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 318,238 shares of the construction company’s stock valued at $24,775,000 after purchasing an additional 191,685 shares during the period. 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.