25,017 Shares in Limbach Holdings, Inc. $LMB Bought by Campbell Newman Asset Management Inc.

Key Points

• Campbell Newman Asset Management disclosed a new first-quarter position in Limbach Holdings, buying 25,017 shares valued at about $1.95 million, or 0.21% of the company.
• Limbach reported a strong recent quarter, with EPS of $0.64 versus the $0.21 consensus and revenue of $138.86 million, both above analyst expectations.
• Analyst sentiment has softened somewhat: several firms downgraded the stock or trimmed targets, and MarketBeat shows a consensus rating of “Hold” with a $116.67 average price target.

Campbell Newman Asset Management Inc. acquired a new position in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 25,017 shares of the construction company's stock, valued at approximately $1,953,000. Campbell Newman Asset Management Inc. owned 0.21% of Limbach as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised 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 valued at $53,000 after acquiring an additional 130 shares during the period. Comerica Bank grew its holdings 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% in the 4th quarter. Royal Bank of Canada now owns 1,445 shares of the construction company's stock worth $113,000 after purchasing an additional 371 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Limbach in the 4th quarter worth about $150,000. Finally, BNP Paribas Financial Markets lifted its stake in Limbach by 59.7% in the second quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company's stock worth $158,000 after purchasing an additional 423 shares during the last quarter. Institutional investors own 55.85% of the company's stock.

Limbach Price Performance

Limbach stock opened at $80.15 on Monday. The stock has a market cap of $955.39 million, a price-to-earnings ratio of 29.15 and a beta of 1.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71. Limbach Holdings, Inc. has a 1 year low of $65.08 and a 1 year high of $154.05. The firm has a 50-day moving average of $82.76 and a two-hundred day moving average of $82.44.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Tuesday, May 5th. The construction company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.43. Limbach had a net margin of 5.09% and a return on equity of 26.17%. The business had revenue of $138.86 million for the quarter, compared to analyst estimates of $134.23 million. During the same period last year, the company posted $1.12 earnings per share. The company's quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts forecast that Limbach Holdings, Inc. will post 4.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen lowered Limbach from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Limbach from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their price target on Limbach from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, March 26th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Limbach has a consensus rating of "Hold" and a consensus target price of $116.67.

Insider Activity at Limbach

In other Limbach news, EVP Jay Sharp sold 4,871 shares of the company's 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 completion of the sale, the executive vice president directly owned 73,456 shares in the company, valued at approximately $5,863,257.92. This represents a 6.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jayme L. Brooks sold 5,703 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $85.43, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 20,394 shares of company stock worth $1,795,746. 7.00% of the stock is owned by insiders.

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.

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