Wasatch Advisors LP Sells 588,776 Shares of Limbach Holdings, Inc. $LMB

Key Points

• Wasatch Advisors cut its Limbach Holdings stake by 60.7% in the second quarter, selling 588,776 shares and retaining 380,863 shares worth approximately $29.3 million. Institutional investors collectively own 55.85% of the company.
• Limbach’s latest quarterly results fell short of expectations, with earnings per share of $0.64 versus the $0.93 consensus estimate and revenue of $173.46 million versus $177.33 million expected.
• The stock opened at $44.95, near its 12-month low of $44.50. Analysts have a consensus “Hold” rating and an $88 target price, although recent opinions include a downgrade to “strong sell” and a lower price target from Stifel Nicolaus.

Wasatch Advisors LP cut its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 60.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,863 shares of the construction company's stock after selling 588,776 shares during the period. Wasatch Advisors LP owned approximately 3.20% of Limbach worth $29,326,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Thrivent Financial for Lutherans lifted its holdings in Limbach by 7.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company's stock valued at $61,550,000 after purchasing an additional 55,511 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Limbach by 83.7% during the 4th quarter. Royce & Associates LP now owns 335,663 shares of the construction company's stock valued at $26,131,000 after purchasing an additional 152,956 shares during the last quarter. UBS Group AG grew its holdings in Limbach by 23.7% during the 4th quarter. UBS Group AG now owns 60,874 shares of the construction company's stock valued at $4,739,000 after buying an additional 11,644 shares in the last quarter. Granite Investment Partners LLC grew its holdings in shares of Limbach by 20.3% in the first quarter. Granite Investment Partners LLC now owns 110,269 shares of the construction company's stock valued at $8,606,000 after purchasing an additional 18,572 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC grew its stake in shares of Limbach by 151.5% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 318,238 shares of the construction company's stock worth $24,775,000 after buying an additional 191,685 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors.

Limbach Stock Performance

Shares of NASDAQ LMB opened at $44.95 on Thursday. The stock has a market cap of $536.25 million, a price-to-earnings ratio of 17.98 and a beta of 1.45. Limbach Holdings, Inc. has a 12 month low of $44.50 and a 12 month high of $128.57. The company has a 50 day simple moving average of $73.61 and a two-hundred day simple moving average of $80.39. 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 quarterly 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). Limbach had a net margin of 4.42% and a return on equity of 23.22%. The company had revenue of $173.46 million for the quarter, compared to analysts' expectations of $177.33 million. As a group, analysts predict that Limbach Holdings, Inc. will post 4.17 earnings per share for the current year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LMB shares. Zacks Research downgraded Limbach from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Limbach in a research report on Wednesday, August 5th. Stifel Nicolaus decreased their price objective on Limbach from $107.00 to $86.00 and set a "buy" rating for the company in a report on Monday. Finally, Wall Street Zen downgraded shares of Limbach from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Limbach currently has a consensus rating of "Hold" and a consensus target price of $88.00.

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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