Professional
Added to YB: 2024-07-29
Pitch date: 2024-07-13
LMB [bullish]
Limbach Holdings, Inc.
+23.1%
current return
Author Info
Laughing Water Capital is a boutique investment partnership. Our partners believe that careful analysis of a select group of businesses can lead to above average investment returns for equity investors. Our small size and patient approach give us an advantage that cannot be matched by traditional asset managers or hedge funds that are focused on the day to day gyrations of the stock market, rather than the fundamental value of businesses. Visit their website.
Company Info
Limbach Holdings, Inc. operates as a building systems solution company in the United States. It operates through two segments, General Contractor Relationships and Owner Direct Relationships.
Market Cap
$792.6M
Pitch Price
$61.70
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.54
P/E
22.51
EV/Sales
1.43
Sector
Construction and Engineering
Category
turnaround
Laughing Water Capital Portfolio Holding: Limbach Holdings, Inc.
LMB: HVAC co transitioning from subcontractor to direct facility owner partnerships. New model: less capital, higher margins, more recurring revenue. Execution ongoing, but slow M&A disappoints. Mgmt signals active pipeline, expects accretive growth. CEO/CFO bought shares. Shift should lead to higher normalized multiple. Risks: execution, economic sensitivity in old model.
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