David Richard Gaboury, a director at Limbach Holdings Inc. (NASDAQ:LMB), recently acquired 531 shares of the company's common stock. The purchase, made on December 10, 2024, was executed at an average price of $94.51 per share, totaling approximately $50,184. The stock, which has delivered an impressive 126% return over the past year, currently trades at $96.88. Following this transaction, Gaboury holds a total of 2,071 shares in the company. This move indicates a modest increase in his stake, reflecting ongoing confidence in the company's prospects. Limbach Holdings, based in Warrendale, Pennsylvania, operates in the construction and real estate sector. With a market capitalization of $1.1 billion and a "GOOD" financial health rating according to InvestingPro, the company has caught analysts' attention, with a consensus price target of $100-113 per share. Discover 14+ additional exclusive insights and detailed analysis available on InvestingPro.
In other recent news, Limbach Holdings has made significant strides in its business operations. The company reported a 4.8% increase in total revenue to $133.9 million in its Q3 earnings call, with a notable growth in owner-direct revenue. The company's adjusted EBITDA also experienced a 27.2% rise to $17.3 million.
In terms of mergers and acquisitions, Limbach Holdings recently announced the acquisition of Consolidated Mechanical, Inc., a move that enhances its industrial service offerings and strengthens its presence in Kentucky, Illinois, and Michigan. The acquisition aligns with Limbach's strategic growth objectives and is expected to contribute annualized revenue of around $23 million from 2025.
In the realm of analyst ratings, Stifel initiated coverage on Limbach Holdings, issuing a Buy rating. The firm's analysis suggests that the company's shift towards smaller, higher-margin, and less cyclical projects could improve Limbach's financial performance and reduce risk over time.
In other company news, Limbach Holdings completed four strategic acquisitions, including Kent Island Mechanical, and revised its fiscal year revenue guidance upwards to between $520 million and $540 million. These recent developments indicate Limbach Holdings' commitment to strategic growth and financial performance enhancement.
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