Polar Asset Management Partners Inc. Invests $10.16 Million in Limbach Holdings, Inc. $LMB

Key Points

• Polar Asset Management acquired 131,901 Limbach shares worth approximately $10.16 million, giving it a 1.11% stake. Institutional investors collectively own 55.85% of the company.
• Limbach reported quarterly EPS of $0.64, missing the $0.93 consensus estimate, while revenue of $173.46 million was also below expectations. The stock opened at $41.91, near its 52-week low of $41.59.
• Analyst sentiment has weakened, with JPMorgan downgrading the stock to underweight and Zacks Research issuing a strong sell rating. Limbach has an average rating of “Reduce” and a consensus price target of $62.

Polar Asset Management Partners Inc. bought a new stake in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 131,901 shares of the construction company's stock, valued at approximately $10,156,000. Polar Asset Management Partners Inc. owned approximately 1.11% of Limbach as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in LMB. Wasatch Advisors LP lifted its position in Limbach by 37.8% during the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company's stock worth $77,647,000 after buying an additional 273,818 shares in the last quarter. BlackRock Inc. acquired a new stake in Limbach in the 2nd quarter valued at about $75,410,000. Thrivent Financial for Lutherans raised its stake in shares of Limbach by 7.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company's stock worth $61,550,000 after acquiring an additional 55,511 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Limbach by 36.0% in the fourth quarter. First Trust Advisors LP now owns 442,173 shares of the construction company's stock worth $34,423,000 after acquiring an additional 117,035 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Limbach by 2,041.6% during the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company's stock worth $56,124,000 after purchasing an additional 381,897 shares in the last quarter. 55.85% of the stock is owned by institutional investors.

Insider Transactions at Limbach

In other Limbach news, EVP Jay Sharp sold 4,871 shares of Limbach stock in a transaction on Monday, June 15th. The shares were sold at an average price of $79.82, for a total transaction of $388,803.22. Following the completion of the sale, the executive vice president owned 73,456 shares of the company's stock, valued at approximately $5,863,257.92. The trade was a 6.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.00% of the company's stock.

Limbach Stock Performance

Limbach stock opened at $41.91 on Wednesday. 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 Holdings, Inc. has a 1 year low of $41.59 and a 1 year high of $128.57. The company has a market cap of $499.99 million, a PE ratio of 16.76 and a beta of 1.45. The company's 50-day moving average is $66.95 and its two-hundred day moving average is $77.81.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29). The business had revenue of $173.46 million during 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%. Equities analysts anticipate that Limbach Holdings, Inc. will post 4.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on LMB. JPMorgan Chase & Co. cut shares of Limbach from a "neutral" rating to an "underweight" rating and decreased their price target for the company from $60.00 to $50.00 in a research note on Friday, August 21st. Royal Bank Of Canada set a $50.00 price objective on shares of Limbach in a research report on Friday. Wall Street Zen downgraded Limbach from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Stifel Nicolaus decreased their price objective on Limbach from $107.00 to $86.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. Finally, Zacks Research cut Limbach from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $62.00.

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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