Limbach (NASDAQ:LMB) Stock Price Down 4.2% – Here’s What Happened

Limbach Holdings, Inc. (NASDAQ:LMB) shares were down 4.2% during mid-day trading on Tuesday . The stock traded as low as $81.41 and last traded at $81.64. Approximately 36,964 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 158,435 shares. The stock had previously closed at $85.21.

Analyst Upgrades and Downgrades

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

Limbach Stock Down 3.7 %

The stock has a fifty day simple moving average of $87.40 and a two-hundred day simple moving average of $86.46. The firm has a market cap of $931.91 million, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.22 and a beta of 1.18. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14.

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

Insider Activity at Limbach

In other news, Director Joshua Horowitz sold 25,400 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $75.43, for a total value of $1,915,922.00. Following the transaction, the director now owns 164,600 shares of the company’s stock, valued at $12,415,778. This represents a 13.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Limbach

Several institutional investors have recently modified their holdings of LMB. Next Century Growth Investors LLC bought a new stake in Limbach in the 4th quarter worth approximately $13,374,000. Rockefeller Capital Management L.P. bought a new stake in shares of Limbach in the 3rd quarter worth approximately $11,635,000. First Trust Advisors LP boosted its stake in shares of Limbach by 67.5% in the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company’s stock valued at $27,578,000 after purchasing an additional 129,869 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Limbach in the fourth quarter worth $5,041,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Limbach by 186.1% during 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 period. 55.85% of the stock is currently owned by institutional investors.

Limbach Company Profile

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.