Limbach (NASDAQ:LMB) Shares Down 5.2% - Time to Sell?

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report)'s share price dropped 5.2% during mid-day trading on Thursday . The company traded as low as $98.14 and last traded at $99.23. Approximately 21,621 shares were traded during trading, a decline of 90% from the average daily volume of 216,349 shares. The stock had previously closed at $104.65.

Wall Street Analyst Weigh In

LMB has been the subject of several recent analyst reports. StockNews.com downgraded shares of Limbach from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th. Stifel Nicolaus raised their price target on shares of Limbach from $110.00 to $117.00 and gave the stock a "buy" rating in a report on Friday. Finally, Roth Mkm upped their price objective on shares of Limbach from $67.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 4th.

Limbach Stock Down 2.7 %

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $95.30 and a 200 day simple moving average of $79.28. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 46.56, a PEG ratio of 2.78 and a beta of 1.11.

Limbach (NASDAQ:LMB - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The business had revenue of $133.90 million during the quarter, compared to the consensus estimate of $129.50 million. During the same quarter last year, the firm posted $0.61 EPS. Limbach's revenue was up 4.9% compared to the same quarter last year. As a group, analysts expect that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Richard Gaboury bought 531 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of $94.51 per share, with a total value of $50,184.81. Following the completion of the transaction, the director now directly owns 2,071 shares in the company, valued at approximately $195,730.21. This represents a 34.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Limbach

Several large investors have recently bought and sold shares of LMB. Thrivent Financial for Lutherans bought a new stake in shares of Limbach in the 2nd quarter worth $2,653,000. The Manufacturers Life Insurance Company bought a new stake in Limbach in the 2nd quarter worth about $223,000. Truist Financial Corp increased its stake in Limbach by 21.0% in the 2nd quarter. Truist Financial Corp now owns 9,049 shares of the construction company's stock valued at $515,000 after buying an additional 1,569 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Limbach during the 3rd quarter worth approximately $794,000. Finally, nVerses Capital LLC purchased a new position in shares of Limbach in the 3rd quarter worth approximately $53,000. 55.85% of the stock is currently owned by institutional investors.

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.