Limbach Holdings, Inc. $LMB Position Reduced by CenterBook Partners LP

Key Points

• CenterBook Partners cut its Limbach stake by 50.9% in the third quarter, selling 32,803 shares and ending the period with 31,639 shares valued at about $1.55 million. Institutional investors collectively own 55.85% of the company.
• Limbach beat quarterly expectations, reporting EPS of $1.37 versus a $1.21 consensus and revenue of $230.46 million versus estimates of $218.59 million.
• Analyst sentiment was mixed but averaged a Hold rating, with a $70.25 average price target. Shares opened at $57.07; a company director also bought 4,008 shares in a September transaction.

CenterBook Partners LP decreased its position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 50.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,639 shares of the construction company's stock after selling 32,803 shares during the quarter. CenterBook Partners LP owned approximately 0.27% of Limbach worth $1,548,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LMB. Vise Technologies Inc. grew its position in shares of Limbach by 16.9% during the 3rd quarter. Vise Technologies Inc. now owns 6,239 shares of the construction company's stock valued at $305,000 after acquiring an additional 902 shares during the period. Isthmus Partners LLC boosted its holdings in shares of Limbach by 15.2% during the 3rd quarter. Isthmus Partners LLC now owns 47,587 shares of the construction company's stock valued at $2,328,000 after purchasing an additional 6,263 shares during the last quarter. Skylands Capital LLC purchased a new position in Limbach during the 3rd quarter valued at approximately $1,670,000. State of Alaska Department of Revenue purchased a new position in shares of Limbach in the third quarter valued at $25,000. Finally, Parkside Financial Bank & Trust bought a new stake in shares of Limbach in the 2nd quarter worth about $36,000. Institutional investors own 55.85% of the company's stock.

Insider Transactions at Limbach

In other Limbach news, Director Joshua Horowitz purchased 4,008 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of $50.71 per share, for a total transaction of $203,245.68. Following the completion of the purchase, the director owned 171,208 shares in the company, valued at $8,681,957.68. This represents a 2.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders bought 7,820 shares of company stock worth $391,002. Corporate insiders own 7.00% of the company's stock.

Limbach Stock Performance

LMB stock opened at $57.07 on Tuesday. The firm has a market cap of $669.43 million, a price-to-earnings ratio of 14.35 and a beta of 1.37. Limbach Holdings, Inc. has a one year low of $40.74 and a one year high of $114.95. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.49 and a current ratio of 1.54. The firm has a 50-day simple moving average of $49.97 and a two-hundred day simple moving average of $70.60.

Limbach (NASDAQ:LMB - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. Limbach had a net margin of 4.23% and a return on equity of 24.40%. The business had revenue of $230.46 million for the quarter, compared to analyst estimates of $218.59 million. On average, equities analysts forecast that Limbach Holdings, Inc. will post 4.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LMB shares. Weiss Ratings restated a "hold (c)" rating on shares of Limbach in a research report on Tuesday, November 3rd. Royal Bank Of Canada set a $50.00 target price on Limbach in a report on Friday, August 21st. Zacks Research raised Limbach from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. Stifel Nicolaus set a $81.00 target price on shares of Limbach in a research note on Monday. Finally, Wall Street Zen upgraded Limbach from a "hold" rating to a "buy" rating in a report on Saturday, September 26th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $70.25.

About Limbach

Limbach Holdings, Inc NASDAQ: LMB provides integrated building systems solutions through its operating subsidiaries, including Limbach Facility Services. The company designs, installs, maintains and services critical mechanical, electrical, plumbing and building automation systems for commercial and institutional facilities.

Limbach's services include heating, ventilation and air conditioning; plumbing and piping; building controls and automation; energy and sustainability solutions; facility maintenance; and related repair, replacement and retrofit work.

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