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

Limbach (NASDAQ:LMB) announced its quarterly earnings data on Tuesday. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29), FiscalAI reports. Limbach had a net margin of 5.09% and a return on equity of 26.17%. The business had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million.

Limbach Stock Down 32.1%

NASDAQ:LMB traded down $24.71 on Wednesday, hitting $52.40. The stock had a trading volume of 866,097 shares, compared to its average volume of 231,845. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. Limbach has a 52 week low of $51.97 and a 52 week high of $128.57. The business’s fifty day moving average is $77.55 and its 200 day moving average is $81.95. The company has a market cap of $624.55 million, a PE ratio of 19.05 and a beta of 1.45.

Wall Street Analyst Weigh In

LMB has been the subject of a number of research analyst reports. Weiss Ratings downgraded Limbach from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Wall Street Zen cut Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $97.00.

Insider Activity at Limbach

In other news, EVP Jay Sharp sold 4,871 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $79.82, for a total transaction of $388,803.22. Following the transaction, the executive vice president directly owned 73,456 shares of the company’s stock, valued at $5,863,257.92. This represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Limbach

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in Limbach by 23.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after buying an additional 130 shares during the last quarter. Comerica Bank increased its position in shares of Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after acquiring an additional 167 shares in the last quarter. Royal Bank of Canada increased its position in shares of Limbach by 34.5% during the fourth quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock worth $113,000 after acquiring an additional 371 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Limbach in the 4th quarter worth about $150,000. Finally, BNP Paribas Financial Markets boosted its stake in Limbach by 59.7% during the 2nd 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 last quarter. Institutional investors own 55.85% of the company’s stock.

Limbach Company Profile

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.