PEAK6 LLC Takes Position in Limbach Holdings, Inc. $LMB

PEAK6 LLC acquired a new stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) during the second quarter, HoldingsChannel reports. The institutional investor acquired 11,810 shares of the construction company’s stock, valued at approximately $909,000.

Several other institutional investors have also recently added to or reduced their stakes in LMB. Emerald Investment Advisers LLC acquired a new stake in shares of Limbach during the 2nd quarter worth about $3,196,000. JB Capital Partners LP acquired a new stake in Limbach during the second quarter worth approximately $1,540,000,000. Vise Technologies Inc. purchased a new stake in Limbach in the 2nd quarter worth approximately $411,000. BlackRock Inc. acquired a new position in Limbach in the 2nd quarter valued at $75,410,000. Finally, Deutsche Bank AG purchased a new position in shares of Limbach during the 2nd quarter worth $919,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LMB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Limbach in a research report on Wednesday, August 5th. Royal Bank Of Canada set a $50.00 price target on shares of Limbach in a research report on Friday. JPMorgan Chase & Co. cut Limbach from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $60.00 to $50.00 in a report on Friday. Stifel Nicolaus lowered their target price on Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Finally, Zacks Research lowered shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Limbach presently has a consensus rating of “Reduce” and a consensus target price of $62.00.

Insiders Place Their Bets

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 sale, the executive vice president directly owned 73,456 shares of the company’s stock, valued at $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is owned by corporate insiders.

Limbach Price Performance

NASDAQ:LMB opened at $42.90 on Monday. The firm has a market capitalization of $511.80 million, a PE ratio of 17.16 and a beta of 1.45. The stock has a 50 day moving average of $68.44 and a 200-day moving average of $78.43. Limbach Holdings, Inc. has a 52 week low of $41.92 and a 52 week high of $128.57. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.18.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The company had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million. Analysts predict that Limbach Holdings, Inc. will post 4.17 EPS for the current year.

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.