Limbach (NASDAQ:LMB) Sees Large Volume Increase – Here’s Why

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) saw unusually-high trading volume on Wednesday . Approximately 81,790 shares changed hands during mid-day trading, a decline of 39% from the previous session’s volume of 135,102 shares.The stock last traded at $91.62 and had previously closed at $100.28.

Analysts Set New Price Targets

Several brokerages recently issued reports 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. StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Roth Mkm increased their price target on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Limbach Stock Down 7.2 %

The firm has a market cap of $1.05 billion, a P/E ratio of 42.31, a P/E/G ratio of 3.10 and a beta of 1.11. The firm’s fifty day moving average is $94.46 and its 200 day moving average is $77.25. 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 (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. The company had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 earnings per share. As a group, equities research analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Limbach

In other news, Director David Richard Gaboury purchased 531 shares of Limbach stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average price of $94.51 per share, for a total transaction of $50,184.81. Following the transaction, the director now owns 2,071 shares of the company’s stock, valued at approximately $195,730.21. The trade was a 34.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

A number of institutional investors have recently added to or reduced their stakes in LMB. Harbor Capital Advisors Inc. increased its holdings in Limbach by 6.3% in the 3rd 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 in the last quarter. American Capital Advisory LLC acquired a new position in shares of Limbach in the third quarter valued at approximately $25,000. Thrivent Financial for Lutherans raised its holdings in Limbach by 0.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 46,987 shares of the construction company’s stock valued at $3,560,000 after buying an additional 382 shares during the last quarter. Empowered Funds LLC boosted its position in Limbach by 4.9% during the 3rd quarter. Empowered Funds LLC now owns 8,618 shares of the construction company’s stock worth $653,000 after buying an additional 402 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Limbach by 15.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,194 shares of the construction company’s stock worth $393,000 after acquiring an additional 699 shares during the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

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.