Limbach Holdings, Inc. (NASDAQ:LMB) Sees Large Decline in Short Interest

Limbach Holdings, Inc. (NASDAQ:LMB) saw a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 898,228 shares, a decrease of 13.0% from the January 15th total of 1,033,018 shares. Currently, 8.6% of the company’s stock are sold short. Based on an average daily trading volume, of 190,514 shares, the short-interest ratio is presently 4.7 days. Based on an average daily trading volume, of 190,514 shares, the short-interest ratio is presently 4.7 days. Currently, 8.6% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of analysts have commented on LMB shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen lowered Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Stifel Nicolaus reduced their target price on Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. initiated coverage on Limbach in a report on Tuesday, February 3rd. They set a “neutral” rating and a $100.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.00.

Limbach Stock Up 3.4%

LMB opened at $91.16 on Wednesday. The stock has a fifty day moving average of $82.61 and a 200-day moving average of $90.95. The company has a market capitalization of $1.06 billion, a P/E ratio of 29.99 and a beta of 1.29. Limbach has a fifty-two week low of $63.02 and a fifty-two week high of $154.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43.

Limbach declared that its Board of Directors has approved a stock buyback program on Monday, December 15th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 5.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Limbach

In other news, insider Jay Sharp sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $77.98, for a total transaction of $155,960.00. Following the completion of the transaction, the insider directly owned 64,979 shares of the company’s stock, valued at $5,067,062.42. This trade represents a 2.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Limbach

Large investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Limbach during the 2nd quarter worth $868,000. Castleark Management LLC acquired a new stake in Limbach during the second quarter worth about $2,962,000. Thrivent Financial for Lutherans increased its holdings in Limbach by 353.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock valued at $71,395,000 after buying an additional 573,136 shares during the period. First Trust Advisors LP raised its position in shares of Limbach by 1,192.1% in the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock valued at $57,606,000 after buying an additional 379,357 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Limbach in the 2nd quarter valued at approximately $1,705,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

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.