Wasatch Advisors LP Sells 27,755 Shares of Limbach Holdings, Inc. $LMB

Key Points

• Wasatch Advisors LP trimmed its stake in Limbach Holdings by 2.8% in the first quarter, selling 27,755 shares and still holding 969,639 shares valued at about $75.7 million, or roughly 8.3% of the company.
• Insider selling continued, with CFO Jayme L. Brooks and EVP Jay Sharp both selling shares under pre-arranged 10b5-1 plans; insiders sold 20,394 shares worth about $1.8 million over the last quarter.
• Limbach reported strong quarterly results, posting $0.64 EPS versus the $0.21 consensus and revenue of $138.86 million, while analysts currently rate the stock a consensus Hold with a target price of $116.67.

Wasatch Advisors LP lowered its position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 2.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 969,639 shares of the construction company's stock after selling 27,755 shares during the period. Wasatch Advisors LP owned about 8.30% of Limbach worth $75,680,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Campbell Newman Asset Management Inc. purchased a new position in shares of Limbach in the first quarter valued at about $1,953,000. SG Americas Securities LLC boosted its stake in shares of Limbach by 123.5% in the first quarter. SG Americas Securities LLC now owns 5,197 shares of the construction company's stock worth $406,000 after acquiring an additional 2,872 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Limbach by 51.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 843 shares of the construction company's stock worth $66,000 after acquiring an additional 286 shares during the period. XTX Topco Ltd grew its position in shares of Limbach by 109.7% during the fourth quarter. XTX Topco Ltd now owns 8,004 shares of the construction company's stock worth $623,000 after purchasing an additional 4,187 shares in the last quarter. Finally, Stokes Family Office LLC purchased a new stake in shares of Limbach during the fourth quarter worth about $229,000. Hedge funds and other institutional investors own 55.85% of the company's stock.

Insider Buying and Selling at Limbach

In other Limbach news, CFO Jayme L. Brooks sold 5,703 shares of Limbach stock in a transaction on Monday, April 13th. The shares were sold at an average price of $85.43, for a total value of $487,207.29. Following the completion of the transaction, the chief financial officer directly owned 130,840 shares of the company's stock, valued at $11,177,661.20. This trade represents a 4.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jay Sharp sold 4,871 shares of the business's stock in a transaction dated Monday, June 15th. The stock was 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 in the company, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,394 shares of company stock valued at $1,795,746 in the last quarter. 7.00% of the stock is owned by company insiders.

Limbach Stock Performance

NASDAQ:LMB opened at $81.43 on Friday. The company has a market cap of $970.65 million, a price-to-earnings ratio of 29.61 and a beta of 1.42. Limbach Holdings, Inc. has a 1 year low of $65.08 and a 1 year high of $154.05. The stock's 50 day simple moving average is $82.31 and its two-hundred day simple moving average is $82.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71.

Limbach (NASDAQ:LMB - Get Free Report) last posted its earnings results on Tuesday, May 5th. The construction company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.43. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The firm had revenue of $138.86 million during the quarter, compared to the consensus estimate of $134.23 million. During the same period in the prior year, the company earned $1.12 EPS. The company's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that Limbach Holdings, Inc. will post 4.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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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