Jay Sharp Sells 2,000 Shares of Limbach (NASDAQ:LMB) Stock

Limbach Holdings, Inc. (NASDAQ:LMB) insider Jay Sharp sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $77.98, for a total transaction of $155,960.00. Following the completion of the transaction, the insider directly owned 64,979 shares of the company’s stock, valued at approximately $5,067,062.42. The trade was a 2.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Limbach Price Performance

LMB stock opened at $79.03 on Thursday. The business’s 50-day moving average is $81.63 and its two-hundred day moving average is $108.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $919.12 million, a P/E ratio of 26.00 and a beta of 1.26. Limbach Holdings, Inc. has a 1 year low of $63.02 and a 1 year high of $154.05.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). Limbach had a net margin of 6.06% and a return on equity of 30.80%. The firm had revenue of $184.58 million during the quarter, compared to analyst estimates of $184.48 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. Limbach’s revenue for the quarter was up 37.8% compared to the same quarter last year. Analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Limbach announced that its board has approved a share buyback program on Monday, December 15th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

LMB has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a report on Tuesday. Wall Street Zen downgraded shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research lowered Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Finally, Stifel Nicolaus lowered their price objective on shares of Limbach from $119.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Limbach has a consensus rating of “Hold” and a consensus price target of $133.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in Limbach by 353.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock valued at $71,395,000 after buying an additional 573,136 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Limbach by 13.3% in the 3rd quarter. Wasatch Advisors LP now owns 723,576 shares of the construction company’s stock valued at $70,274,000 after purchasing an additional 84,697 shares in the last quarter. Capital International Investors lifted its holdings in Limbach by 10.7% in the 3rd quarter. Capital International Investors now owns 645,288 shares of the construction company’s stock valued at $62,670,000 after purchasing an additional 62,483 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Limbach by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 634,082 shares of the construction company’s stock worth $47,220,000 after purchasing an additional 29,685 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Limbach by 1,192.1% during the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock worth $57,606,000 after purchasing an additional 379,357 shares during the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Company Profile

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.