Limbach (NASDAQ:LMB) Trading Down 5.2% – Here’s What Happened

Limbach Holdings, Inc. (NASDAQ:LMB) shares dropped 5.2% on Thursday . The company traded as low as $98.14 and last traded at $99.23. Approximately 21,621 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 216,349 shares. The stock had previously closed at $104.65.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Limbach from $108.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Roth Mkm upped their target price on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Limbach Price Performance

The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 47.37, a P/E/G ratio of 2.65 and a beta of 1.11. 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’s fifty day moving average price is $94.76 and its 200-day moving average price is $78.78.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $133.90 million for the quarter, compared to the consensus estimate of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. As a group, equities research analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at Limbach

In other Limbach news, Director David Richard Gaboury acquired 531 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average price of $94.51 per share, for a total transaction of $50,184.81. Following the completion of the acquisition, the director now owns 2,071 shares of the company’s stock, valued at approximately $195,730.21. This trade represents a 34.48 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.20% of the company’s stock.

Institutional Trading of Limbach

A number of large investors have recently modified their holdings of LMB. Wasatch Advisors LP increased its holdings in Limbach by 6.7% during the 3rd quarter. Wasatch Advisors LP now owns 372,836 shares of the construction company’s stock worth $28,246,000 after purchasing an additional 23,360 shares during the period. Corsair Capital Management L.P. increased its stake in shares of Limbach by 1.3% during the third quarter. Corsair Capital Management L.P. now owns 313,360 shares of the construction company’s stock worth $23,740,000 after buying an additional 3,988 shares during the period. Royce & Associates LP raised its holdings in Limbach by 35.3% in the third quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock valued at $18,908,000 after acquiring an additional 65,082 shares in the last quarter. Geode Capital Management LLC lifted its stake in Limbach by 2.2% in the third quarter. Geode Capital Management LLC now owns 238,445 shares of the construction company’s stock worth $18,068,000 after acquiring an additional 5,093 shares during the last quarter. Finally, State Street Corp grew its holdings in Limbach by 11.1% during the 3rd quarter. State Street Corp now owns 219,120 shares of the construction company’s stock worth $16,601,000 after acquiring an additional 21,951 shares in the last quarter. Hedge funds and other 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.