Royce & Associates LP Buys 152,956 Shares of Limbach Holdings, Inc. $LMB

Key Points

• Royce & Associates LP boosted its Limbach Holdings stake by 83.7% in the fourth quarter, buying 152,956 more shares and ending with 335,663 shares worth about $26.1 million.
• Limbach reported better-than-expected quarterly earnings, posting $0.64 EPS versus the $0.21 estimate, while revenue of $138.86 million also topped forecasts.
• Despite the earnings beat, analysts remain cautious: recent rating cuts left the stock with an overall Hold rating and an average price target of $116.67.

Royce & Associates LP increased its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 83.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 335,663 shares of the construction company's stock after acquiring an additional 152,956 shares during the quarter. Royce & Associates LP owned about 2.89% of Limbach worth $26,131,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LMB. Thrivent Financial for Lutherans increased its position in Limbach by 353.8% during the third quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company's stock worth $71,395,000 after acquiring an additional 573,136 shares during the period. Invesco Ltd. increased its position in 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 acquiring an additional 381,897 shares during the period. Wasatch Advisors LP increased its position in Limbach by 59.2% during the second quarter. Wasatch Advisors LP now owns 638,879 shares of the construction company's stock worth $89,507,000 after acquiring an additional 237,475 shares during the period. Capital International Investors increased its position in Limbach by 10.7% during the third quarter. Capital International Investors now owns 645,288 shares of the construction company's stock worth $62,670,000 after acquiring an additional 62,483 shares during the period. Finally, Makaira Partners LLC bought a new position in Limbach during the second quarter worth $7,319,000. Institutional investors own 55.85% of the company's stock.

Insiders Place Their Bets

In other Limbach news, EVP Jay Sharp sold 2,000 shares of Limbach stock in a transaction on Monday, March 16th. The shares were sold at an average price of $79.99, for a total transaction of $159,980.00. Following the sale, the executive vice president owned 79,027 shares in the company, valued at $6,321,369.73. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jayme L. Brooks sold 3,440 shares of Limbach stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $100.00, for a total transaction of $344,000.00. Following the sale, the chief financial officer owned 125,227 shares in the company, valued at $12,522,700. This represents a 2.67% 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. Insiders have sold 27,433 shares of company stock worth $2,345,453 in the last quarter. Corporate insiders own 10.20% of the company's stock.

Limbach Stock Up 4.0%

LMB opened at $74.19 on Wednesday. Limbach Holdings, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $154.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71. The firm's fifty day moving average price is $82.17 and its two-hundred day moving average price is $81.38. The company has a market capitalization of $884.42 million, a P/E ratio of 26.98 and a beta of 1.54.

Limbach (NASDAQ:LMB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share 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 firm had revenue of $138.86 million for the quarter, compared to the consensus estimate of $134.23 million. During the same quarter in the previous year, the company earned $1.12 earnings per share. The business's revenue was up 4.3% compared to the same quarter last year. On average, analysts anticipate that Limbach Holdings, Inc. will post 4.98 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Limbach from $100.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, March 26th. Wall Street Zen lowered shares of Limbach from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Limbach from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $116.67.

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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