Limbach (NASDAQ:LMB) Stock Price Down 4.4% – What’s Next?

Limbach Holdings, Inc. (NASDAQ:LMB) shares fell 4.4% during mid-day trading on Tuesday . The company traded as low as $131.33 and last traded at $131.43. 45,156 shares were traded during mid-day trading, a decline of 75% from the average session volume of 178,331 shares. The stock had previously closed at $137.46.

Analyst Ratings Changes

LMB has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on shares of Limbach from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Roth Capital restated a “buy” rating on shares of Limbach in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Limbach currently has an average rating of “Moderate Buy” and a consensus target price of $115.33.

Limbach Stock Down 2.5%

The firm’s fifty day simple moving average is $106.00 and its 200 day simple moving average is $95.11. 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 $1.56 billion, a price-to-earnings ratio of 61.03, a PEG ratio of 2.22 and a beta of 1.21.

Limbach (NASDAQ:LMB) last posted its earnings results on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.30 by $0.82. The firm had revenue of $133.11 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. Sell-side analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the business’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 transaction, the director now owns 164,600 shares in the company, valued at approximately $12,415,778. The trade was a 13.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Limbach

A number of hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. bought a new position in shares of Limbach during the first quarter worth about $11,705,000. Next Century Growth Investors LLC acquired a new stake in shares of Limbach during the 4th quarter valued at $13,374,000. Lord Abbett & CO. LLC bought a new stake in Limbach in the first quarter worth $9,693,000. First Trust Advisors LP lifted its position in shares of Limbach by 67.5% in the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company’s stock worth $27,578,000 after buying an additional 129,869 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Limbach by 81.7% during the 1st quarter. Northern Trust Corp now owns 166,716 shares of the construction company’s stock worth $12,415,000 after acquiring an additional 74,986 shares in the last quarter. Institutional investors and hedge funds 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.