Limbach (NASDAQ:LMB) Reaches New 12-Month High – Here’s Why

Limbach Holdings, Inc. (NASDAQ:LMB)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $128.52 and last traded at $127.61, with a volume of 38161 shares changing hands. The stock had previously closed at $127.24.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Roth Capital reaffirmed a “buy” rating on shares of Limbach in a report on Wednesday, May 7th. Stifel Nicolaus set a $103.00 price target on Limbach in a research note on Wednesday, March 12th. Finally, Lake Street Capital upped their price target on Limbach from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.67.

Limbach Trading Up 0.9%

The company has a fifty day simple moving average of $90.29 and a two-hundred day simple moving average of $91.11. 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 company has a market cap of $1.49 billion, a PE ratio of 58.36, a P/E/G ratio of 2.22 and a beta of 1.08.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.82. The company had revenue of $133.11 million during the quarter, compared to the consensus estimate of $121.06 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. Limbach’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. Analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the completion of the sale, the director now directly owns 164,600 shares of the company’s stock, valued at $12,415,778. This represents a 13.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Limbach

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in Limbach by 15.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,194 shares of the construction company’s stock valued at $393,000 after purchasing an additional 699 shares in the last quarter. RoundAngle Advisors LLC purchased a new position in Limbach in the 4th quarter valued at approximately $474,000. Moody Aldrich Partners LLC purchased a new position in Limbach in the 4th quarter valued at approximately $4,430,000. Kestra Private Wealth Services LLC increased its stake in Limbach by 36.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 11,563 shares of the construction company’s stock valued at $989,000 after purchasing an additional 3,075 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Limbach by 1.8% in the 4th quarter. Rhumbline Advisers now owns 14,065 shares of the construction company’s stock valued at $1,203,000 after purchasing an additional 255 shares in the last quarter. 55.85% of the stock is owned by hedge funds and other 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.