Limbach (NASDAQ:LMB) Hits New 12-Month High – Here’s What Happened

Limbach Holdings, Inc. (NASDAQ:LMB) reached a new 52-week high during trading on Monday . The stock traded as high as $107.00 and last traded at $103.76, with a volume of 21685 shares. The stock had previously closed at $99.49.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LMB. Stifel Nicolaus assumed coverage on shares of Limbach in a research note on Friday, November 15th. They issued a “buy” rating and a $108.00 price objective for the company. Roth Mkm lifted their price target 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. Finally, StockNews.com cut shares of Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Limbach Trading Up 4.2 %

The stock has a market capitalization of $1.17 billion, a PE ratio of 45.22, a price-to-earnings-growth ratio of 3.27 and a beta of 0.97. 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 firm has a 50-day moving average price of $84.83 and a 200-day moving average price of $68.83.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping 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 business had revenue of $133.90 million during the quarter, compared to the consensus estimate of $129.50 million. During the same period last year, the business posted $0.61 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling at Limbach

In other Limbach news, Director Joshua Horowitz sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $61.86, for a total value of $433,020.00. Following the completion of the sale, the director now owns 203,000 shares of the company’s stock, valued at $12,557,580. This represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Limbach

Several institutional investors have recently added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new stake in shares of Limbach in the 3rd quarter worth about $25,000. nVerses Capital LLC purchased a new stake in Limbach in the third quarter worth about $53,000. Harbor Capital Advisors Inc. boosted its position in Limbach by 6.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock valued at $207,000 after acquiring an additional 162 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Limbach during the 3rd quarter worth approximately $207,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Limbach during the 2nd quarter worth approximately $223,000. Hedge funds and other 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.