Limbach (NASDAQ:LMB) Stock Price Up 6.5%

Limbach Holdings, Inc. (NASDAQ:LMB)’s share price rose 6.5% on Thursday . The stock traded as high as $73.06 and last traded at $73.03. Approximately 63,686 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 168,775 shares. The stock had previously closed at $68.55.

Wall Street Analysts Forecast Growth

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

Limbach Stock Performance

The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $61.67 and its two-hundred day moving average is $53.46. The firm has a market capitalization of $811.33 million, a price-to-earnings ratio of 33.48, a P/E/G ratio of 2.35 and a beta of 0.95.

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

Insider Transactions at Limbach

In other news, Director Joshua Horowitz sold 5,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $64.02, for a total value of $320,100.00. Following the completion of the sale, the director now directly owns 190,000 shares of the company’s stock, valued at $12,163,800. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 40,072 shares of company stock valued at $2,418,821 in the last quarter. 10.20% of the stock is currently owned by company insiders.

Institutional Trading of Limbach

Several hedge funds and other institutional investors have recently modified their holdings of LMB. The Manufacturers Life Insurance Company bought a new stake in shares of Limbach during the second quarter valued at about $223,000. Brendel Financial Advisors LLC bought a new stake in Limbach in the second quarter worth $231,000. Meeder Asset Management Inc. grew its position in Limbach by 7.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock worth $232,000 after acquiring an additional 292 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Limbach in the fourth quarter worth $235,000. Finally, PFG Advisors bought a new stake in shares of Limbach in the first quarter worth about $253,000. Institutional investors own 55.85% of the company’s stock.

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.