Limbach (NASDAQ:LMB) Trading Down 5.2% – Here’s Why

Limbach Holdings, Inc. (NASDAQ:LMB)’s share price traded down 5.2% during mid-day trading on Thursday . The stock traded as low as $98.14 and last traded at $99.23. 21,621 shares traded hands during trading, a decline of 90% from the average session volume of 216,349 shares. The stock had previously closed at $104.65.

Analyst Ratings Changes

Several research firms recently weighed in on LMB. Stifel Nicolaus raised their target price on shares of Limbach from $108.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Roth Mkm lifted their target price on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Limbach Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $1.17 billion, a PE ratio of 47.37, a P/E/G ratio of 2.65 and a beta of 1.11. The stock has a fifty day moving average price of $94.76 and a 200-day moving average price of $78.78.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data 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 net margin of 5.08% and a return on equity of 20.16%. The firm had revenue of $133.90 million for the quarter, compared to the consensus estimate of $129.50 million. During the same quarter in the previous year, the firm earned $0.61 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Limbach

In related news, Director David Richard Gaboury acquired 531 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average cost of $94.51 per share, with a total value of $50,184.81. Following the completion of the acquisition, the director now directly owns 2,071 shares of the company’s stock, valued at $195,730.21. This represents a 34.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Limbach

Several hedge funds have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of Limbach by 21.7% during the third quarter. FMR LLC now owns 40,543 shares of the construction company’s stock worth $3,072,000 after purchasing an additional 7,239 shares in the last quarter. Virtu Financial LLC purchased a new stake in Limbach during the 3rd quarter worth approximately $487,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Limbach during the third quarter valued at approximately $643,000. Barclays PLC lifted its position in shares of Limbach by 385.4% in the third quarter. Barclays PLC now owns 16,879 shares of the construction company’s stock valued at $1,278,000 after acquiring an additional 13,402 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Limbach in the third quarter worth approximately $568,000. 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.