Emerald Investment Advisers LLC Takes Position in Limbach Holdings, Inc. $LMB

Key Points

• Emerald Investment Advisers acquired 41,505 Limbach shares worth approximately $3.2 million, representing about 0.35% of the company. Institutional investors and hedge funds collectively own 55.85% of LMB.
• Analyst sentiment has weakened, with recent downgrades including Zacks Research’s “strong sell” rating and JPMorgan’s “underweight” rating with a reduced $50 price target. Limbach has a consensus rating of “Reduce” and an average target price of $62.
• Limbach reported quarterly EPS of $0.64, missing the $0.93 consensus estimate, while revenue of $173.46 million also fell short of expectations. Shares opened at $42.90, near the company’s 52-week low of $41.92.

Emerald Investment Advisers LLC acquired a new position in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 41,505 shares of the construction company's stock, valued at approximately $3,196,000. Emerald Investment Advisers LLC owned approximately 0.35% of Limbach at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of LMB. Caitong International Asset Management Co. Ltd acquired a new stake in Limbach during the 3rd quarter valued at $54,000. Comerica Bank raised its holdings in shares of Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company's stock worth $64,000 after acquiring an additional 167 shares during the last quarter. State of Wyoming acquired a new position in shares of Limbach in the second quarter worth $71,000. Fifth Third Bancorp purchased a new stake in shares of Limbach in the first quarter valued at $85,000. Finally, BNP Paribas Financial Markets lifted its position 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 acquiring an additional 423 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LMB has been the subject of a number of recent research reports. Wall Street Zen cut Limbach from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings restated a "hold (c)" rating on shares of Limbach in a report on Wednesday, August 5th. Zacks Research cut shares of Limbach from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $50.00 price target (down from $60.00) on shares of Limbach in a report on Friday. Finally, Royal Bank Of Canada set a $50.00 price objective on shares of Limbach in a research report on Friday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Limbach currently has a consensus rating of "Reduce" and an average target price of $62.00.

Insider Buying and Selling

In other news, EVP Jay Sharp sold 4,871 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.82, for a total value of $388,803.22. Following the transaction, the executive vice president directly owned 73,456 shares in the company, valued at $5,863,257.92. This trade represents a 6.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is owned by corporate insiders.

Limbach Stock Up 0.4%

Shares of NASDAQ LMB opened at $42.90 on Friday. The stock has a market capitalization of $511.80 million, a PE ratio of 17.16 and a beta of 1.45. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $68.44 and a 200-day moving average of $78.48. Limbach Holdings, Inc. has a 52-week low of $41.92 and a 52-week high of $128.57.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share 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 firm had revenue of $173.46 million during the quarter, compared to analysts' expectations of $177.33 million. On average, analysts anticipate that Limbach Holdings, Inc. will post 4.17 EPS for the current year.

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.

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