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

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

Insider Transactions at Limbach

In related news, Director Joshua Horowitz sold 5,000 shares of the stock in a transaction 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 transaction, the director now owns 190,000 shares of the company’s stock, valued at $12,163,800. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 19,272 shares of company stock valued at $1,188,349 over the last three months. Company insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LMB. BNP Paribas Financial Markets boosted its stake in Limbach by 20.1% during the first quarter. BNP Paribas Financial Markets now owns 8,411 shares of the construction company’s stock worth $348,000 after acquiring an additional 1,406 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Limbach by 8.7% during the first quarter. Janney Montgomery Scott LLC now owns 19,697 shares of the construction company’s stock valued at $816,000 after purchasing an additional 1,574 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Limbach by 7.3% in the 1st quarter. Empowered Funds LLC now owns 7,676 shares of the construction company’s stock worth $318,000 after purchasing an additional 525 shares in the last quarter. Russell Investments Group Ltd. grew 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 worth $2,977,000 after buying an additional 56,535 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Limbach by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock valued at $23,464,000 after buying an additional 32,030 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LMB shares. StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus began coverage on shares of Limbach in a research note on Friday. They set a “buy” rating and a $108.00 price target on the stock. Finally, Roth Mkm upped their price objective on shares of Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Limbach Trading Up 3.7 %

NASDAQ:LMB traded up $3.28 during midday trading on Friday, reaching $92.09. 125,090 shares of the stock traded hands, compared to its average volume of 133,227. The stock has a market capitalization of $1.04 billion, a P/E ratio of 41.86, a PEG ratio of 2.97 and a beta of 0.97. The company has a fifty day moving average of $79.36 and a 200 day moving average of $65.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. Limbach has a 12 month low of $35.24 and a 12 month high of $98.36.

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

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.