Limbach (NASDAQ:LMB) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Limbach from buy to hold, adding to a more cautious analyst tone around the stock.
• Other analysts have also trimmed expectations: Stifel Nicolaus cut its price target to $104 and JPMorgan lowered its target to $90; MarketBeat shows a consensus rating of Hold.
• Limbach reported stronger-than-expected Q1 results, earning $0.64 per share versus $0.21 expected and posting $138.86 million in revenue, while insiders recently sold shares and institutional ownership remains high at 55.85%.

Limbach (NASDAQ:LMB - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other equities analysts also recently weighed in on LMB. Stifel Nicolaus dropped their target price on shares of Limbach from $111.00 to $104.00 and set a "buy" rating for the company in a report on Monday, January 26th. JPMorgan Chase & Co. dropped their target price on shares of Limbach from $100.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, March 26th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Limbach currently has a consensus rating of "Hold" and an average target price of $116.67.

Limbach Stock Performance

NASDAQ:LMB opened at $71.70 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.44 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $85.40 and a two-hundred day moving average price of $83.31. Limbach has a twelve month low of $65.08 and a twelve month high of $154.05. The company has a market capitalization of $854.60 million, a P/E ratio of 26.07 and a beta of 1.54.

Limbach (NASDAQ:LMB - Get Free Report) last posted its earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $134.23 million. During the same period last year, the firm posted $1.12 EPS. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts expect that Limbach will post 4.73 earnings per share for the current fiscal year.

Insider Transactions at Limbach

In other news, CFO Jayme L. Brooks sold 3,440 shares of Limbach stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $100.00, for a total transaction of $344,000.00. Following the completion of the sale, the chief financial officer directly owned 125,227 shares in the company, valued at $12,522,700. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jay Sharp sold 2,000 shares of Limbach stock in a transaction dated Monday, March 16th. The stock was 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 of the company's stock, valued at approximately $6,321,369.73. This trade represents a 2.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 27,433 shares of company stock valued at $2,345,453. Insiders own 9.70% of the company's stock.

Institutional Investors Weigh In On Limbach

A number of hedge funds and other institutional investors have recently modified their holdings of LMB. Thrivent Financial for Lutherans grew its holdings in shares of 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 buying an additional 573,136 shares in the last quarter. Invesco Ltd. grew its holdings in shares of 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 buying an additional 381,897 shares in the last quarter. Wasatch Advisors LP grew its holdings in shares of Limbach by 37.8% during the fourth quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company's stock worth $77,647,000 after buying an additional 273,818 shares in the last quarter. Neumeier Poma Investment Counsel LLC grew its holdings in shares of Limbach by 151.5% during the fourth 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. Finally, Royce & Associates LP grew its holdings in shares of Limbach by 83.7% during the fourth quarter. Royce & Associates LP now owns 335,663 shares of the construction company's stock worth $26,131,000 after buying an additional 152,956 shares in the last quarter. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

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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