Limbach (NASDAQ:LMB) Sets New 1-Year High on Analyst Upgrade

Limbach Holdings, Inc. (NASDAQ:LMB)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $141.00 to $151.00. Stifel Nicolaus currently has a buy rating on the stock. Limbach traded as high as $145.78 and last traded at $142.26, with a volume of 68036 shares traded. The stock had previously closed at $136.00.

Several other research firms also recently issued reports on LMB. Lake Street Capital lifted their price target on Limbach from $125.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday. Roth Capital reaffirmed a “buy” rating on shares of Limbach in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.00.

Insider Transactions at Limbach

In other Limbach news, insider Jay Sharp sold 2,000 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $137.49, for a total value of $274,980.00. Following the transaction, the insider directly owned 69,877 shares in the company, valued at approximately $9,607,388.73. This represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Limbach by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 634,082 shares of the construction company’s stock valued at $47,220,000 after purchasing an additional 29,685 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Limbach by 0.4% in the 4th quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company’s stock valued at $32,025,000 after purchasing an additional 1,546 shares in the last quarter. First Trust Advisors LP lifted its holdings in 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. Goldman Sachs Group Inc. lifted its holdings in Limbach by 2.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock valued at $21,583,000 after purchasing an additional 7,771 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in Limbach by 25.7% in the 1st quarter. Royce & Associates LP now owns 254,500 shares of the construction company’s stock valued at $18,953,000 after purchasing an additional 52,030 shares in the last quarter. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Limbach Stock Performance

The company has a market capitalization of $1.74 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 2.77 and a beta of 1.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.55 and a current ratio of 1.55. The stock’s fifty day simple moving average is $127.51 and its 200-day simple moving average is $100.30.

Limbach (NASDAQ:LMB) last released its earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.82. Limbach had a net margin of 6.29% and a return on equity of 27.66%. The company had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. During the same period in the prior year, the firm earned $0.69 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

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.