Limbach (NASDAQ:LMB) Director Purchases 2,600 Shares of Stock

Key Points

• Director Joshua Horowitz purchased 2,600 Limbach shares at an average price of $49.01, investing $127,426 and increasing his direct holdings by 1.58% to 167,200 shares. He also made several additional purchases recently.
• Limbach shares fell 1.3% to $50.52, while the company’s latest quarterly results missed expectations: earnings were $0.64 per share versus the $0.93 consensus, and revenue came in at $173.46 million.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $70.25; institutional investors own 55.85% of the company.

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) Director Joshua Horowitz bought 2,600 shares of the business's stock in a transaction on Friday, September 11th. The stock was bought at an average price of $49.01 per share, for a total transaction of $127,426.00. Following the transaction, the director directly owned 167,200 shares of the company's stock, valued at approximately $8,194,472. This represents a 1.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Joshua Horowitz also recently made the following trade(s):

• On Tuesday, September 15th, Joshua Horowitz acquired 4,008 shares of Limbach stock. The shares were purchased at an average price of $50.71 per share, for a total transaction of $203,245.68.
• On Tuesday, September 15th, Joshua Horowitz bought 212 shares of Limbach stock. The stock was purchased at an average cost of $50.66 per share, with a total value of $10,739.92.
• On Friday, September 11th, Joshua Horowitz bought 1,000 shares of Limbach stock. The stock was purchased at an average price of $49.59 per share, with a total value of $49,590.00.

Limbach Trading Down 1.3%

Shares of LMB stock traded down $0.66 during mid-day trading on Tuesday, reaching $50.52. 493,183 shares of the stock traded hands, compared to its average volume of 416,226. The company has a market cap of $602.70 million, a price-to-earnings ratio of 20.21 and a beta of 1.42. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18. The stock's fifty day simple moving average is $57.29 and its two-hundred day simple moving average is $73.16. Limbach Holdings, Inc. has a 1-year low of $40.74 and a 1-year high of $114.95.

Limbach (NASDAQ:LMB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.29). Limbach had a net margin of 4.42% and a return on equity of 23.22%. The business had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million. On average, research analysts anticipate that Limbach Holdings, Inc. will post 4.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LMB shares. Zacks Research cut shares of Limbach from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Limbach in a report on Wednesday, August 5th. Stifel Nicolaus lowered their price objective on Limbach from $107.00 to $86.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Lake Street Capital upped their target price on Limbach from $90.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, September 2nd. Finally, Royal Bank Of Canada set a $50.00 price objective on Limbach in a research report on Friday, August 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $70.25.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Limbach during the second quarter worth about $75,410,000. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of Limbach in the second quarter worth approximately $24,944,381. Royce & Associates LP lifted its holdings in shares of Limbach by 83.7% in the fourth 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 in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Limbach in the second quarter valued at approximately $10,156,000. Finally, WCM Investment Management LLC purchased a new position in shares of Limbach during the first quarter valued at approximately $6,067,000. Institutional investors and hedge funds own 55.85% of the company's stock.

About Limbach

Limbach Holdings, Inc NASDAQ: LMB provides building systems solutions and facility services for commercial, institutional, and industrial customers. Its services include the design, installation, maintenance, and operation of mechanical, electrical, plumbing, and heating, ventilation, and air-conditioning systems.

The company serves a range of end markets, including healthcare, education, commercial real estate, government, and manufacturing. Limbach also provides facility maintenance, energy-efficiency solutions, building automation, and other services intended to support the performance and ongoing operation of critical building infrastructure.

Limbach traces its roots to 1901 and is headquartered in Pittsburgh, Pennsylvania.

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