Limbach (NASDAQ:LMB) Shares Down 6.1% - Here's What Happened

Shares of Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) were down 6.1% during trading on Tuesday . The company traded as low as $86.91 and last traded at $85.69. Approximately 39,757 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 179,475 shares. The stock had previously closed at $91.23.

Analysts Set New Price Targets

A number of analysts recently commented on LMB shares. Roth Mkm lifted their target price on shares of Limbach from $67.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Lake Street Capital lifted their target price on shares of Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. StockNews.com lowered Limbach from a "buy" rating to a "hold" rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus increased their price objective on Limbach from $110.00 to $117.00 and gave the company a "buy" rating in a report on Friday, January 24th.

Limbach Stock Down 3.9 %

The company has a market capitalization of $903.07 million, a price-to-earnings ratio of 36.42, a P/E/G ratio of 2.29 and a beta of 1.11. The business's 50-day moving average is $92.84 and its 200-day moving average is $83.75. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14.

Insider Activity at Limbach

In other news, Director David Richard Gaboury purchased 531 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of $94.51 per share, with a total value of $50,184.81. Following the completion of the acquisition, the director now owns 2,071 shares of the company's stock, valued at approximately $195,730.21. This represents a 34.48 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its stake in shares of Limbach by 6.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company's stock valued at $207,000 after purchasing an additional 162 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Limbach by 5.2% in the 4th quarter. Teacher Retirement System of Texas now owns 3,453 shares of the construction company's stock valued at $295,000 after purchasing an additional 172 shares in the last quarter. Swiss National Bank increased its stake in shares of Limbach by 1.0% in the 4th quarter. Swiss National Bank now owns 19,900 shares of the construction company's stock valued at $1,702,000 after purchasing an additional 200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Limbach by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,818 shares of the construction company's stock valued at $498,000 after purchasing an additional 231 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Limbach by 1.8% in the fourth 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 during the period. Hedge funds and other institutional investors 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.