Short Interest in Limbach Holdings, Inc. (NASDAQ:LMB) Declines By 21.2%

Limbach Holdings, Inc. (NASDAQ:LMB) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 543,000 shares, a decline of 21.2% from the October 15th total of 689,300 shares. Based on an average daily volume of 138,200 shares, the days-to-cover ratio is presently 3.9 days. Approximately 5.5% of the company’s shares are sold short.

Insider Buying and Selling at Limbach

In other Limbach news, Director Joshua Horowitz sold 7,272 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $59.85, for a total value of $435,229.20. Following the sale, the director now directly owns 210,000 shares in the company, valued at approximately $12,568,500. This trade represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 19,272 shares of company stock valued at $1,188,349 over the last quarter. 10.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted 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 worth $23,464,000 after purchasing an additional 32,030 shares during the last quarter. American Century Companies Inc. increased its position in Limbach by 6.0% in the second quarter. American Century Companies Inc. now owns 208,223 shares of the construction company’s stock worth $11,854,000 after purchasing an additional 11,782 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Limbach by 368.5% during the first quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock valued at $2,977,000 after buying an additional 56,535 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Limbach by 34.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 83,385 shares of the construction company’s stock worth $6,317,000 after purchasing an additional 21,346 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Limbach during the 2nd quarter worth $2,653,000. Institutional investors own 55.85% of the company’s stock.

Limbach Trading Up 3.7 %

Shares of NASDAQ LMB traded up $3.28 during trading on Friday, hitting $92.09. 124,841 shares of the company traded hands, compared to its average volume of 163,140. Limbach has a 1 year low of $35.24 and a 1 year high of $98.36. The company has a 50-day moving average price of $79.36 and a 200-day moving average price of $64.96. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.04 billion, a P/E ratio of 41.86, a P/E/G ratio of 2.95 and a beta of 0.97.

Limbach (NASDAQ:LMB) last announced its earnings results on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The business had revenue of $133.90 million during the quarter, compared to the consensus estimate of $129.50 million. During the same period in the prior year, the business posted $0.61 earnings per share. Limbach’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Limbach will post 2.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LMB. Stifel Nicolaus assumed coverage on shares of Limbach in a report on Friday. They set a “buy” rating and a $108.00 target price on the stock. Roth Mkm raised their target price on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a research note on Thursday.

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.