Shares of Limbach Holdings, Inc. (NASDAQ:LMB – Get Free Report) fell 8.1% on Thursday . The company traded as low as $43.78 and last traded at $44.45. 154,501 shares traded hands during trading, a decline of 11% from the average session volume of 173,450 shares. The stock had previously closed at $48.38.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut shares of Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 13th.
Get Our Latest Stock Report on Limbach
Limbach Stock Down 1.5 %
Limbach (NASDAQ:LMB – Get Free Report) last released its earnings results on Wednesday, March 13th. The construction company reported $0.44 earnings per share (EPS) for the quarter. The company had revenue of $142.69 million during the quarter, compared to analyst estimates of $131.25 million. Limbach had a net margin of 4.02% and a return on equity of 18.87%. As a group, research analysts expect that Limbach Holdings, Inc. will post 1.88 earnings per share for the current year.
Institutional Trading of Limbach
Several hedge funds have recently modified their holdings of LMB. SG Americas Securities LLC bought a new position in Limbach during the 3rd quarter valued at about $117,000. Commonwealth Equity Services LLC acquired a new position in shares of Limbach during the third quarter worth $493,000. Raymond James & Associates purchased a new stake in Limbach in the third quarter valued at about $279,000. Bank of New York Mellon Corp boosted its stake in Limbach by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 28,047 shares of the construction company’s stock worth $890,000 after purchasing an additional 531 shares in the last quarter. Finally, Strs Ohio grew its position in Limbach by 400.0% during the 3rd quarter. Strs Ohio now owns 9,500 shares of the construction company’s stock worth $301,000 after purchasing an additional 7,600 shares during the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.
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.
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