Limbach (NASDAQ:LMB) Stock Price Up 5.1% – Here’s Why

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) shot up 5.1% during trading on Wednesday . The company traded as high as $83.11 and last traded at $83.93. 53,246 shares were traded during mid-day trading, a decline of 68% from the average session volume of 166,419 shares. The stock had previously closed at $79.88.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LMB. Lake Street Capital boosted their price objective on shares of Limbach from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Stifel Nicolaus set a $103.00 target price on Limbach in a research report on Wednesday, March 12th.

Limbach Trading Up 6.6 %

The firm has a market cap of $966.94 million, a price-to-earnings ratio of 38.71, a PEG ratio of 2.22 and a beta of 1.01. 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 business has a fifty day simple moving average of $79.94 and a 200-day simple moving average of $86.78.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results on Monday, March 10th. The construction company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.31. The firm had revenue of $143.70 million during the quarter, compared to the consensus estimate of $149.37 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The business’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. As a group, equities analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 164,600 shares of the company’s stock, valued at approximately $12,415,778. The trade was a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LMB. Harbor Capital Advisors Inc. increased its stake in shares of Limbach by 43.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,656 shares of the construction company’s stock worth $272,000 after purchasing an additional 1,103 shares in the last quarter. DHK Financial Advisors Inc. purchased a new position in shares of Limbach during the 1st quarter valued at about $399,000. Rhumbline Advisers grew its stake in shares of Limbach by 3.1% during the 1st quarter. Rhumbline Advisers now owns 14,498 shares of the construction company’s stock valued at $1,080,000 after acquiring an additional 433 shares during the period. GAMMA Investing LLC raised its stake in Limbach by 16,413.0% during the 1st quarter. GAMMA Investing LLC now owns 3,798 shares of the construction company’s stock worth $283,000 after acquiring an additional 3,775 shares during the period. Finally, Kings Path Partners LLC purchased a new position in Limbach during the first quarter valued at approximately $300,000. 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.