Limbach (NASDAQ:LMB) Shares Down 6.5% – What’s Next?

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) traded down 6.5% during trading on Thursday . The company traded as low as $74.04 and last traded at $71.37. 13,798 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 194,921 shares. The stock had previously closed at $76.30.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Stifel Nicolaus cut their price objective on shares of Limbach from $117.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Lake Street Capital boosted their price objective on shares of Limbach from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th.

Limbach Price Performance

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The company’s 50-day simple moving average is $89.76 and its 200-day simple moving average is $85.38. The stock has a market capitalization of $868.62 million, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 2.22 and a beta of 1.18.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results on Monday, March 10th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.31. The firm 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%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, sell-side analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In related news, Director Joshua Horowitz sold 25,400 shares of the company’s stock in a transaction dated 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 directly owns 164,600 shares in the company, valued at approximately $12,415,778. This represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its stake in shares of Limbach by 21.7% in the third quarter. FMR LLC now owns 40,543 shares of the construction company’s stock valued at $3,072,000 after acquiring an additional 7,239 shares in the last quarter. Virtu Financial LLC acquired a new stake in Limbach during the third quarter worth about $487,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Limbach during the third quarter worth about $643,000. Barclays PLC grew its stake in Limbach by 385.4% during the third quarter. Barclays PLC now owns 16,879 shares of the construction company’s stock worth $1,278,000 after buying an additional 13,402 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Limbach during the third quarter worth about $568,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

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.