Insider Selling: Limbach (NASDAQ:LMB) CFO Sells $487,207.29 in Stock

Limbach Holdings, Inc. (NASDAQ:LMB) CFO Jayme Brooks sold 5,703 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $85.43, for a total transaction of $487,207.29. Following the transaction, the chief financial officer directly owned 130,840 shares in the company, valued at $11,177,661.20. The trade was a 4.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Limbach Trading Up 4.6%

Shares of Limbach stock opened at $93.56 on Friday. Limbach Holdings, Inc. has a 1 year low of $65.08 and a 1 year high of $154.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $1.09 billion, a P/E ratio of 28.88 and a beta of 1.44. The company’s fifty day moving average is $84.92 and its two-hundred day moving average is $83.33.

Limbach (NASDAQ:LMB) last issued its earnings results on Monday, March 2nd. The construction company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.14. The business had revenue of $186.87 million for the quarter, compared to the consensus estimate of $197.56 million. Limbach had a net margin of 6.04% and a return on equity of 30.73%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 earnings per share. Analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Institutional Trading of Limbach

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Limbach in the third quarter valued at about $54,000. Comerica Bank lifted its stake in shares of Limbach by 24.0% in the first 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 period. BNP Paribas Financial Markets lifted its stake in shares of Limbach by 59.7% in the second quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock valued at $158,000 after purchasing an additional 423 shares during the period. Royal Bank of Canada lifted its stake in shares of Limbach by 34.5% in the fourth 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 period. Finally, SG Americas Securities LLC lifted its stake in shares of Limbach by 85.0% in the third quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock valued at $158,000 after purchasing an additional 749 shares during the period. Institutional investors and hedge funds own 55.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LMB shares. Zacks Research raised shares of Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Stifel Nicolaus lowered their target price on shares of Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Limbach currently has an average rating of “Moderate Buy” and a consensus target price of $116.67.

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.