Limbach (NASDAQ:LMB) Reaches New 12-Month High on Strong Earnings

Limbach Holdings, Inc. (NASDAQ:LMB)’s stock price reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $90.00 and last traded at $89.37, with a volume of 157691 shares. The stock had previously closed at $77.79.

The construction company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The company had revenue of $133.90 million for the quarter, compared to analysts’ expectations of $129.50 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year.

Analyst Upgrades and Downgrades

LMB has been the subject of several research reports. StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Roth Mkm lifted their price target on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday.

Insider Activity

In related news, Director Joshua Horowitz sold 12,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $59.17, for a total value of $710,040.00. Following the completion of the sale, the director now owns 237,672 shares in the company, valued at approximately $14,063,052.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 40,072 shares of company stock valued at $2,418,821. 10.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Capital Advisory LLC acquired a new stake in Limbach during the 3rd quarter worth $25,000. nVerses Capital LLC bought a new stake in Limbach in the third quarter valued at about $53,000. Harbor Capital Advisors Inc. lifted its stake in Limbach by 6.3% in the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock valued at $207,000 after buying an additional 162 shares during the period. Mraz Amerine & Associates Inc. acquired a new position in shares of Limbach during the 3rd quarter worth about $265,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Limbach in the 2nd quarter valued at about $223,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Stock Up 14.9 %

The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 40.82, a P/E/G ratio of 2.62 and a beta of 0.97. The business’s 50-day moving average is $74.57 and its two-hundred day moving average is $62.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63.

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.