Limbach Holdings, Inc. (NASDAQ:LMB) has seen a significant purchase of stock by its Chief Executive Officer, Michael M. McCann. According to a recent filing, McCann bought shares worth approximately $100,270 on May 17th, indicating a strong belief in the company's future prospects.
The transaction involved the acquisition of 2,099 shares at a weighted average price of $47.7707, with individual prices ranging from $47.30 to $48.06. This purchase increases McCann's direct holdings in the company to a total of 44,233 shares, as stated in the filing. Additionally, the report disclosed that McCann holds an indirect interest through The McCann Family Revocable Living Trust, which owns 88,567 shares. It's important to note that McCann, along with his spouse, is a trustee of the trust, and disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest.
The recent buy could be interpreted as a signal of internal confidence in the financial health and trajectory of Limbach Holdings, a company specializing in construction and specialty trade contracting. Investors often monitor such insider transactions as they provide insight into the executives' perspectives on the value and growth potential of their companies.
The filing was signed by Jeremiah G. Garvey, Attorney-in-Fact for McCann, and was made public on May 20th. As part of Limbach Holdings' commitment to transparency, further details regarding the number of shares purchased at each separate price can be provided upon request to the company, any security holder, or the SEC staff.
InvestingPro Insights
Limbach Holdings, Inc. (NASDAQ:LMB) has not only caught the attention of its CEO Michael M. McCann with his recent stock purchase but also presents notable metrics and insights that could be of interest to potential investors. With a market capitalization of $542.38 million and a trailing twelve months price-to-earnings (P/E) ratio of 19.76, the company is trading at a valuation that suggests it is reasonably priced relative to its near-term earnings growth.
One of the InvestingPro Tips highlights that Limbach Holdings is trading at a low P/E ratio in comparison to its near-term earnings growth, which could indicate that the stock is undervalued. Another tip points out that the company has been profitable over the last twelve months, which is a positive sign for investors looking for financially sound companies. For those interested in more detailed analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/LMB, which could provide deeper insights into the company's financial health and future prospects.
From the real-time data provided by InvestingPro, Limbach Holdings has shown a strong return over the last month, with a 21.44% increase, and an even more impressive one-year price total return of 122.98%. The company's ability to generate cash flows that can sufficiently cover interest payments is reassuring for investors, as it indicates a lower risk of financial distress. It's also worth noting that the company's liquid assets exceed its short-term obligations, providing financial flexibility and stability.
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