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

Limbach (NASDAQ:LMB) posted 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. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The business had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million.

Limbach Trading Up 5.1%

NASDAQ:LMB traded up $3.74 during midday trading on Tuesday, reaching $76.99. 296,264 shares of the stock traded hands, compared to its average volume of 227,971. The company has a fifty day moving average of $77.49 and a 200 day moving average of $82.00. Limbach has a 12 month low of $65.08 and a 12 month 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. The stock has a market capitalization of $917.72 million, a P/E ratio of 28.00 and a beta of 1.45.

Insider Transactions at Limbach

In other Limbach news, 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 value of $388,803.22. Following the sale, the executive vice president owned 73,456 shares of the company’s stock, valued at $5,863,257.92. This trade represents a 6.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Limbach

Several hedge funds and other institutional investors have recently modified their holdings of LMB. Caitong International Asset Management Co. Ltd grew its stake in shares of Limbach by 23.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after purchasing an additional 130 shares during the last quarter. Comerica Bank raised its position in Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares during the last quarter. Royal Bank of Canada raised its position in Limbach by 34.5% during the 4th quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock valued at $113,000 after purchasing an additional 371 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Limbach in the 4th quarter worth approximately $150,000. Finally, BNP Paribas Financial Markets grew its position in shares of Limbach by 59.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock worth $158,000 after buying an additional 423 shares during the last quarter. 55.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings cut Limbach from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $97.00.

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.