Limbach (NASDAQ:LMB) Trading Up 4.4% – What’s Next?

Limbach Holdings, Inc. (NASDAQ:LMB) was up 4.4% on Monday . The company traded as high as $85.88 and last traded at $85.74. Approximately 47,050 shares changed hands during trading, a decline of 72% from the average daily volume of 165,854 shares. The stock had previously closed at $82.11.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Limbach Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.63. The stock’s 50-day moving average price is $68.63 and its 200-day moving average price is $58.07. The company has a market cap of $927.74 million, a P/E ratio of 38.02, a PEG ratio of 2.68 and a beta of 0.96.

Limbach (NASDAQ:LMB) last announced its earnings results on Tuesday, August 6th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.13. Limbach had a net margin of 5.08% and a return on equity of 21.06%. The firm had revenue of $122.24 million for the quarter, compared to analyst estimates of $123.50 million. During the same quarter in the prior year, the business posted $0.46 EPS. Equities analysts anticipate that Limbach Holdings, Inc. will post 2.43 EPS for the current year.

Insiders Place Their Bets

In other news, Director Joshua Horowitz sold 8,800 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $59.14, for a total transaction of $520,432.00. Following the completion of the sale, the director now directly owns 223,272 shares in the company, valued at approximately $13,204,306.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 40,072 shares of company stock worth $2,418,821 in the last 90 days. Company insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Limbach by 6.0% in the first quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock valued at $23,464,000 after acquiring an additional 32,030 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Limbach by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 208,223 shares of the construction company’s stock valued at $11,854,000 after purchasing an additional 11,782 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Limbach by 368.5% in the 1st quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock valued at $2,977,000 after purchasing an additional 56,535 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Limbach during the 2nd quarter worth $2,653,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Limbach during the 2nd quarter worth $3,532,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Company Profile

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. The company engages in the construction and renovation projects that involve primarily include mechanical, plumbing, and electrical services.