Limbach (NASDAQ:LMB) Trading 5.1% Higher – What’s Next?

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

Analysts Set New Price Targets

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

Limbach Price Performance

The stock has a fifty day moving average of $79.69 and a two-hundred day moving average of $86.77. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $983.17 million, a price-to-earnings ratio of 39.36, a PEG ratio of 2.22 and a beta of 1.01.

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

Insider Activity at Limbach

In related news, Director Joshua Horowitz sold 25,400 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the completion of the transaction, the director now directly owns 164,600 shares in the company, valued at approximately $12,415,778. This trade represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Limbach

Several institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Limbach by 592.6% in the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company’s stock valued at $28,000 after purchasing an additional 320 shares during the last quarter. IFP Advisors Inc bought a new stake in Limbach during the 4th quarter worth about $37,000. Comerica Bank boosted its stake in shares of Limbach by 727.4% during the 4th quarter. Comerica Bank now owns 695 shares of the construction company’s stock worth $59,000 after buying an additional 611 shares during the last quarter. US Bancorp DE bought a new position in shares of Limbach in the 4th quarter valued at about $115,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Limbach in the fourth quarter valued at about $154,000. Institutional investors own 55.85% of the company’s stock.

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.