Limbach (NASDAQ:LMB) Trading 3.5% Higher - Here's Why

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report)'s stock price traded up 3.5% during mid-day trading on Thursday . The company traded as high as $82.46 and last traded at $82.53. 109,915 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 156,330 shares. The stock had previously closed at $79.73.

Analyst Ratings Changes

A number of research firms recently issued reports on LMB. Stifel Nicolaus set a $103.00 target price on shares of Limbach in a report on Wednesday, March 12th. Lake Street Capital lifted their price target on shares of Limbach from $100.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th.

Limbach Stock Up 2.5 %

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 firm has a market capitalization of $964.55 million, a price-to-earnings ratio of 38.63, a price-to-earnings-growth ratio of 2.22 and a beta of 1.18. The firm has a 50 day moving average price of $87.64 and a two-hundred day moving average price of $86.30.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Monday, March 10th. The construction company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.31. The business had revenue of $143.70 million for the quarter, compared to the consensus estimate of $149.37 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The business's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 EPS. On average, equities analysts expect that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

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Insider Buying and Selling

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 value of $1,915,922.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.20% of the stock is currently owned by insiders.

Institutional Trading of Limbach

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Next Century Growth Investors LLC acquired a new position in Limbach during the 4th quarter worth $13,374,000. Rockefeller Capital Management L.P. acquired a new position in Limbach in the third quarter worth about $11,635,000. First Trust Advisors LP increased its holdings in Limbach by 67.5% in the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock valued at $27,578,000 after buying an additional 129,869 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Limbach in the fourth quarter valued at about $5,041,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Limbach by 186.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 83,945 shares of the construction company's stock valued at $6,360,000 after buying an additional 54,599 shares in the last quarter. 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.