Limbach (NASDAQ:LMB) Cut to Hold at StockNews.com

StockNews.com cut shares of Limbach (NASDAQ:LMB) from a buy rating to a hold rating in a research report released on Thursday morning.

Separately, Roth Mkm increased their price objective on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

Limbach Trading Up 3.7 %

Shares of Limbach stock traded up $3.25 during trading hours on Thursday, hitting $92.06. The company’s stock had a trading volume of 104,592 shares, compared to its average volume of 163,048. Limbach has a 1-year low of $35.24 and a 1-year high of $98.36. The business has a fifty day moving average of $78.20 and a 200 day moving average of $64.47. The company has a market capitalization of $1.04 billion, a PE ratio of 40.37, a P/E/G ratio of 2.95 and a beta of 0.97. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The company had revenue of $133.90 million during the quarter, compared to analyst estimates of $129.50 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Limbach will post 2.58 EPS for the current year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 7,000 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $61.86, for a total transaction of $433,020.00. Following the transaction, the director now directly owns 203,000 shares in the company, valued at $12,557,580. This represents a 3.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 19,272 shares of company stock valued at $1,188,349. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. bought a new position in Limbach in the third quarter worth about $11,635,000. Royce & Associates LP grew its stake in Limbach by 35.3% during the 3rd quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock worth $18,908,000 after buying an additional 65,082 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Limbach during the 2nd quarter worth $3,532,000. Russell Investments Group Ltd. increased its position in Limbach by 368.5% in the first quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock worth $2,977,000 after buying an additional 56,535 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Limbach by 186.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 83,945 shares of the construction company’s stock valued at $6,360,000 after buying an additional 54,599 shares during the last quarter. 55.85% of the stock is currently owned by 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.