Limbach (NASDAQ:LMB) Sees Strong Trading Volume – Here’s Why

Limbach Holdings, Inc. (NASDAQ:LMB) shares saw unusually-strong trading volume on Tuesday . 156,481 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 258,435 shares.The stock last traded at $42.7860 and had previously closed at $41.22.

Analyst Ratings Changes

LMB has been the topic of several research reports. JPMorgan Chase & Co. downgraded shares of Limbach from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $60.00 to $50.00 in a report on Friday, August 21st. Zacks Research lowered shares of Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Royal Bank Of Canada set a $50.00 price target on shares of Limbach in a research report on Friday, August 21st. Stifel Nicolaus cut their price target on Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $62.00.

Limbach Stock Up 7.8%

The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $530.17 million, a PE ratio of 17.78 and a beta of 1.45. The stock’s fifty day simple moving average is $63.83 and its 200-day simple moving average is $76.51.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The firm had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million. As a group, sell-side analysts forecast that Limbach Holdings, Inc. will post 4.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Limbach news, EVP Jay Sharp sold 4,871 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.82, for a total value of $388,803.22. Following the completion of the sale, the executive vice president owned 73,456 shares in the company, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Limbach

Several institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in Limbach during the third quarter worth $54,000. Comerica Bank grew its stake in Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares during the period. State of Wyoming bought a new position in Limbach in the 2nd quarter valued at $71,000. Fifth Third Bancorp purchased a new stake in shares of Limbach during the 1st quarter valued at $85,000. Finally, BNP Paribas Financial Markets increased its position in shares of Limbach by 59.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock valued at $158,000 after purchasing an additional 423 shares during the last quarter. 55.85% of the stock is owned by institutional investors.

About Limbach

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.