Limbach (NASDAQ:LMB) Sets New 52-Week High – Here’s What Happened

Limbach Holdings, Inc. (NASDAQ:LMB) shares hit a new 52-week high on Tuesday . The stock traded as high as $98.70 and last traded at $98.49, with a volume of 85595 shares trading hands. The stock had previously closed at $93.90.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LMB shares. Roth Mkm raised their target price 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. StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus started coverage on shares of Limbach in a research note on Friday. They issued a “buy” rating and a $108.00 target price for the company.

Limbach Stock Up 5.9 %

The company’s 50 day moving average price is $79.36 and its 200 day moving average price is $65.23. 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 $1.12 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 2.97 and a beta of 0.97.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. Limbach had a net margin of 5.08% and a return on equity of 20.16%. 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 previous year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts forecast that Limbach Holdings, Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Transactions at Limbach

In related news, Director Joshua Horowitz sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $61.86, for a total transaction of $433,020.00. Following the completion of the transaction, the director now owns 203,000 shares of the company’s stock, valued at $12,557,580. This trade represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. American Capital Advisory LLC purchased a new position in shares of Limbach during the third quarter worth $25,000. nVerses Capital LLC purchased a new position in shares of Limbach during the third quarter worth $53,000. Harbor Capital Advisors Inc. raised its holdings in shares of Limbach by 6.3% during the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after purchasing an additional 162 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Limbach during the third quarter worth $207,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Limbach in the second quarter valued at $223,000. Hedge funds and other 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.