Jay Sharp Sells 2,000 Shares of Limbach Holdings, Inc. (NASDAQ:LMB) Stock

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $137.49, for a total transaction of $274,980.00. Following the transaction, the insider now directly owns 69,877 shares in the company, valued at approximately $9,607,388.73. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Limbach Stock Performance

Shares of Limbach stock traded down $1.26 on Friday, reaching $136.56. 70,323 shares of the stock were exchanged, compared to its average volume of 180,298. The business has a 50 day moving average price of $116.50 and a two-hundred day moving average price of $97.31. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 49.03, a PEG ratio of 2.62 and a beta of 1.21. Limbach Holdings, Inc. has a twelve month low of $48.17 and a twelve month high of $143.58. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.15.

Limbach (NASDAQ:LMB - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.82. The company had revenue of $133.11 million during the quarter, compared to analyst estimates of $121.06 million. Limbach had a net margin of 6.29% and a return on equity of 27.66%. Limbach's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. Analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Limbach

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its holdings in Limbach by 592.6% during the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock worth $28,000 after acquiring an additional 320 shares during the period. Legacy Advisors LLC purchased a new stake in Limbach in the 1st quarter worth approximately $30,000. IFP Advisors Inc acquired a new stake in shares of Limbach during the 4th quarter worth approximately $37,000. AlphaQuest LLC purchased a new position in shares of Limbach during the 1st quarter valued at approximately $53,000. Finally, Comerica Bank lifted its stake in shares of Limbach by 727.4% in the 4th quarter. Comerica Bank now owns 695 shares of the construction company's stock valued at $59,000 after purchasing an additional 611 shares during the period. 55.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on LMB shares. Roth Capital reissued a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Stifel Nicolaus lifted their price objective on shares of Limbach from $130.00 to $141.00 and gave the stock a "buy" rating in a research note on Monday, June 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $115.33.

Limbach Company Profile

Limbach Holdings, Inc operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.