Limbach (NASDAQ:LMB) Shares Gap Up Following Insider Buying Activity

Key Points

• Limbach shares gapped higher from a $50.52 close to a $52.38 open after director Joshua Horowitz disclosed multiple purchases, including 4,008 shares for about $203,246.
• Analyst sentiment is mixed but leans cautious: the stock has an average “Hold” rating and a $70.25 target, while JPMorgan downgraded it to “Underweight” and Zacks Research issued a “Strong Sell” rating.
• Limbach’s latest quarterly results missed expectations, with EPS of $0.64 versus the $0.93 consensus and revenue of $173.46 million versus $177.33 million; institutional investors own 55.85% of the company.

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $50.52, but opened at $52.38. Limbach shares last traded at $52.9710, with a volume of 34,710 shares traded.

Specifically, Director Joshua Horowitz bought 4,008 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $50.71 per share, for a total transaction of $203,245.68. Following the completion of the transaction, the director directly owned 171,208 shares in the company, valued at $8,681,957.68. The trade was a 2.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joshua Horowitz purchased 2,600 shares of the business's stock in a transaction dated Friday, September 11th. The shares were purchased at an average cost of $49.01 per share, for a total transaction of $127,426.00. Following the purchase, the director directly owned 167,200 shares of the company's stock, valued at $8,194,472. This trade represents a 1.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In other news, Director Joshua Horowitz purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The shares were acquired at an average price of $49.59 per share, for a total transaction of $49,590.00. Following the completion of the acquisition, the director directly owned 43,785 shares in the company, valued at approximately $2,171,298.15. The trade was a 2.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Several brokerages have weighed in on LMB. Zacks Research cut Limbach from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Limbach in a research note on Wednesday, August 5th. Royal Bank Of Canada set a $50.00 price target on shares of Limbach in a research report on Friday, August 21st. JPMorgan Chase & Co. downgraded shares of Limbach from a "neutral" rating to an "underweight" rating and dropped their price target for the stock from $60.00 to $50.00 in a research note on Friday, August 21st. Finally, Stifel Nicolaus cut their price objective on shares of Limbach from $107.00 to $86.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $70.25.

Limbach Stock Performance

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 has a market cap of $629.73 million, a P/E ratio of 21.11 and a beta of 1.42. The stock has a fifty day simple moving average of $57.29 and a 200-day simple moving average of $73.16.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.64 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 company had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million. Equities analysts expect that Limbach Holdings, Inc. will post 4.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Limbach

Large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust acquired a new stake in Limbach in the second quarter worth $36,000. VELA Investment Management LLC increased its position in shares of Limbach by 8.6% in the 2nd quarter. VELA Investment Management LLC now owns 45,166 shares of the construction company's stock valued at $3,478,000 after buying an additional 3,566 shares in the last quarter. Corient Private Wealth LP increased its position in shares of Limbach by 34.5% in the 2nd quarter. Corient Private Wealth LP now owns 23,135 shares of the construction company's stock valued at $1,781,000 after buying an additional 5,938 shares in the last quarter. Grandeur Peak Global Advisors LLC bought a new stake in shares of Limbach in the 2nd quarter valued at $3,620,000. Finally, Kerrisdale Advisers LLC acquired a new stake in Limbach during the 2nd quarter worth $1,579,000. Institutional investors 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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