Michael F. McNally, a director at Limbach Holdings, Inc. (NASDAQ:LMB), has sold a significant portion of his stock in the company, according to a recent filing with the Securities and Exchange Commission. On May 13, McNally sold 7,119 shares at prices ranging from $49.78 to $50.51, and an additional 854 shares at prices between $51.21 and $52.01. The total value of the shares sold by McNally amounted to approximately $399,964.
The transactions were executed in two separate tranches, with the first and larger sale of 7,119 shares yielding a weighted average sales price of $49.9976. The second sale involved 854 shares and achieved a weighted average price of $51.5591. Following these transactions, McNally's ownership in the company stands at 56,509 shares of common stock.
Investors often monitor insider sales as they may provide insights into an executive's view of the company's current valuation or future prospects. However, it is not uncommon for executives to sell shares for reasons unrelated to their outlook on the company, such as personal financial management or estate planning.
Limbach Holdings, Inc., headquartered in Warrendale, Pennsylvania, specializes in construction and specialty trade contracting. The company has been incorporated in Delaware and operates within the real estate and construction sector.
Investors and stakeholders in Limbach Holdings can request more detailed information about the specific prices at which McNally's shares were sold within the reported ranges, as indicated in the footnotes of the SEC filing. The reported sales were conducted in a direct manner, and the filing was signed by an attorney-in-fact for McNally, indicating that he had duly authorized the representation for these transactions.
InvestingPro Insights
In light of the recent insider selling at Limbach Holdings, Inc. (NASDAQ:LMB), potential investors and current shareholders might be seeking additional data to understand the company's financial health and market position. According to InvestingPro data, Limbach Holdings has a market capitalization of $566.53 million and is trading at a P/E ratio of 21.72, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 20.64. This indicates a valuation that is in line with the company's earnings.
The company's revenue growth for the last twelve months as of Q1 2024 stood at 2.26%, showing a modest increase. However, it's worth noting that the quarterly revenue growth for Q1 2024 experienced a slight decline of -1.68%. Despite this, the company's gross profit margin remains robust at 24.14%, which is a testament to its ability to maintain profitability.
InvestingPro Tips suggest that Limbach Holdings holds more cash than debt on its balance sheet and that its cash flows can sufficiently cover interest payments, which may be comforting to investors concerned about the company's financial stability. Additionally, the company is trading at a low P/E ratio relative to near-term earnings growth, which could indicate that the stock is undervalued.
For those interested in a deeper dive into Limbach Holdings' financials and future prospects, InvestingPro offers more comprehensive analysis and tips. There are 13 additional InvestingPro Tips available for Limbach Holdings, which can be accessed through InvestingPro. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing even more value to your investment research process.
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