Limbach Holdings, Inc. $LMB Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its Limbach Holdings stake by 96.5% in the first quarter, selling 426,518 shares and retaining 15,655 shares worth approximately $1.22 million. Institutional investors collectively own 55.85% of the company.
• Analyst sentiment is cautious: Limbach has a consensus “Hold” rating from four analysts and a $97 average price target, while Wall Street Zen recently downgraded the stock from “Buy” to “Hold.”
• Limbach’s latest quarterly results fell short of expectations, with adjusted earnings of $0.64 per share versus a $0.93 consensus estimate and revenue of $173.46 million versus $177.33 million expected. The stock opened at $48.70, near its 12-month low of $47.15.

First Trust Advisors LP reduced its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 96.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,655 shares of the construction company's stock after selling 426,518 shares during the quarter. First Trust Advisors LP owned 0.13% of Limbach worth $1,222,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of Limbach by 23.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company's stock valued at $53,000 after buying an additional 130 shares during the period. Comerica Bank lifted its holdings in Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company's stock worth $64,000 after buying an additional 167 shares in the last quarter. Caxton Associates LLP boosted its position in Limbach by 4.9% in the 3rd quarter. Caxton Associates LLP now owns 3,624 shares of the construction company's stock valued at $352,000 after buying an additional 168 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Limbach by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company's stock valued at $537,000 after purchasing an additional 204 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Limbach by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company's stock valued at $451,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 55.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Limbach in a research report on Wednesday. Wall Street Zen lowered Limbach from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Limbach has a consensus rating of "Hold" and a consensus target price of $97.00.

Insider Buying and Selling

In other Limbach news, EVP Jay Sharp sold 4,871 shares of the company's stock in a transaction dated Monday, June 15th. The shares were 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 of the company's stock, valued at approximately $5,863,257.92. This represents a 6.22% decrease in their position. The sale was disclosed in a legal 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. Company insiders own 7.00% of the company's stock.

Limbach Stock Performance

Shares of NASDAQ LMB opened at $48.70 on Monday. Limbach Holdings, Inc. has a 12-month low of $47.15 and a 12-month high of $128.57. The company has a market cap of $580.99 million, a PE ratio of 19.48 and a beta of 1.45. The stock has a 50 day simple moving average of $75.73 and a 200-day simple moving average of $81.18. 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 - Get Free Report) last announced 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). The business had revenue of $173.46 million for the quarter, compared to the consensus estimate of $177.33 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. On average, equities research analysts forecast that Limbach Holdings, Inc. will post 4.63 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.

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