Limbach (NASDAQ:LMB) Stock Price Up 7.6%

Limbach Holdings, Inc. (NASDAQ:LMB)’s stock price was up 7.6% during trading on Tuesday . The company traded as high as $57.45 and last traded at $56.47. Approximately 75,497 shares changed hands during trading, a decline of 56% from the average daily volume of 172,555 shares. The stock had previously closed at $52.49.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Limbach from a “hold” rating to a “buy” rating in a research note on Tuesday.

Limbach Trading Up 7.2 %

The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $58.29 and its 200 day moving average is $49.37. The company has a market cap of $628.88 million, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results on Wednesday, May 8th. The construction company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.28. Limbach had a net margin of 4.93% and a return on equity of 21.75%. The firm had revenue of $118.98 million for the quarter, compared to analyst estimates of $126.50 million. Research analysts predict that Limbach Holdings, Inc. will post 2.25 EPS for the current year.

Insider Activity at Limbach

In other news, Director Michael F. Mcnally sold 7,973 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $50.16, for a total transaction of $399,925.68. Following the completion of the transaction, the director now directly owns 56,509 shares of the company’s stock, valued at approximately $2,834,491.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Limbach news, Director Michael F. Mcnally sold 7,973 shares of Limbach stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $50.16, for a total value of $399,925.68. Following the sale, the director now owns 56,509 shares of the company’s stock, valued at approximately $2,834,491.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jayme L. Brooks purchased 943 shares of Limbach stock in a transaction dated Tuesday, May 21st. The shares were bought at an average price of $52.15 per share, with a total value of $49,177.45. Following the completion of the transaction, the chief financial officer now owns 4,511 shares in the company, valued at approximately $235,248.65. The disclosure for this purchase can be found here. Company insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

Hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System bought a new position in Limbach in the 4th quarter worth about $38,000. Gladius Capital Management LP acquired a new position in shares of Limbach in the fourth quarter worth about $44,000. USA Financial Formulas raised its stake in Limbach by 13,000.0% during the 4th quarter. USA Financial Formulas now owns 1,703 shares of the construction company’s stock valued at $77,000 after purchasing an additional 1,690 shares during the period. AJOVista LLC purchased a new stake in Limbach in the 4th quarter worth about $82,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Limbach during the fourth quarter worth approximately $172,000. 55.85% of the stock is 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.