Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) - Equities researchers at Roth Capital raised their FY2024 earnings per share estimates for Limbach in a report released on Thursday, November 7th. Roth Capital analyst G. Sweeney now forecasts that the construction company will post earnings per share of $2.58 for the year, up from their prior estimate of $2.43. The consensus estimate for Limbach's current full-year earnings is $2.43 per share. Roth Capital also issued estimates for Limbach's Q4 2024 earnings at $0.82 EPS, FY2025 earnings at $3.13 EPS and FY2026 earnings at $3.64 EPS.
Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. The company had revenue of $133.90 million during the quarter, compared to the consensus estimate of $129.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. Limbach's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 EPS.
Several other research firms also recently weighed in on LMB. StockNews.com raised Limbach from a "hold" rating to a "buy" rating in a research report on Wednesday. Roth Mkm boosted their price objective on Limbach from $67.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday.
View Our Latest Stock Analysis on LMB
Limbach Price Performance
NASDAQ LMB traded up $3.19 during mid-day trading on Friday, hitting $96.94. The stock had a trading volume of 154,328 shares, compared to its average volume of 164,064. Limbach has a 52-week low of $31.18 and a 52-week high of $97.40. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 44.26, a P/E/G ratio of 2.52 and a beta of 0.97. The company has a 50 day simple moving average of $75.75 and a 200 day simple moving average of $62.88. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.15.
Institutional Investors Weigh In On Limbach
A number of institutional investors have recently made changes to their positions in the stock. Royce & Associates LP lifted its stake in Limbach by 35.3% during the third quarter. Royce & Associates LP now owns 249,578 shares of the construction company's stock worth $18,908,000 after purchasing an additional 65,082 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Limbach in the 2nd quarter valued at approximately $3,532,000. Russell Investments Group Ltd. lifted its holdings in shares of Limbach by 368.5% during the 1st quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company's stock worth $2,977,000 after acquiring an additional 56,535 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Limbach during the second quarter valued at about $2,653,000. Finally, Vanguard Group Inc. increased its stake in shares of Limbach by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company's stock worth $23,464,000 after acquiring an additional 32,030 shares in the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Limbach news, Director Joshua Horowitz sold 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $59.17, for a total value of $710,040.00. Following the sale, the director now owns 237,672 shares of the company's stock, valued at $14,063,052.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 40,072 shares of company stock valued at $2,418,821 over the last three months. Insiders own 10.20% of the company's stock.
About Limbach
(
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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.
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