Limbach (NASDAQ:LMB) Shares Up 3.5% – Here’s Why

Limbach Holdings, Inc. (NASDAQ:LMB) was up 3.5% during mid-day trading on Thursday . The stock traded as high as $82.46 and last traded at $82.53. Approximately 109,915 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 156,330 shares. The stock had previously closed at $79.73.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus set a $103.00 target price on Limbach in a research report on Wednesday, March 12th. Lake Street Capital upped their price objective on Limbach from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th.

Limbach Stock Performance

The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $919.82 million, a PE ratio of 36.81, a PEG ratio of 2.22 and a beta of 1.18. The firm’s 50-day simple moving average is $88.21 and its 200-day simple moving average is $85.86.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Monday, March 10th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.31. The company had revenue of $143.70 million for the quarter, compared to analysts’ expectations of $149.37 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. Limbach’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.68 earnings per share. On average, research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of Limbach stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $75.43, for a total value of $1,915,922.00. Following the transaction, the director now owns 164,600 shares in the company, valued at $12,415,778. The trade was a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Limbach by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 604,397 shares of the construction company’s stock worth $51,700,000 after purchasing an additional 3,001 shares in the last quarter. Wasatch Advisors LP increased its position in Limbach by 0.4% during the 4th quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company’s stock valued at $32,025,000 after buying an additional 1,546 shares in the last quarter. First Trust Advisors LP boosted its holdings in Limbach by 67.5% in the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company’s stock worth $27,578,000 after acquiring an additional 129,869 shares in the last quarter. Corsair Capital Management L.P. boosted its holdings in Limbach by 1.3% in the third quarter. Corsair Capital Management L.P. now owns 313,360 shares of the construction company’s stock worth $23,740,000 after acquiring an additional 3,988 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Limbach by 2.2% during the third quarter. Geode Capital Management LLC now owns 238,445 shares of the construction company’s stock worth $18,068,000 after acquiring an additional 5,093 shares during the last quarter. Institutional investors own 55.85% of the company’s stock.

About Limbach

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.