Limbach (NASDAQ:LMB) Sets New 1-Year High - Here's Why

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as $82.31 and last traded at $82.11, with a volume of 154932 shares. The stock had previously closed at $79.87.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Limbach from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th.

Limbach Stock Performance

The business's fifty day simple moving average is $67.45 and its 200-day simple moving average is $57.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $925.38 million, a PE ratio of 36.47, a price-to-earnings-growth ratio of 2.68 and a beta of 0.96.

Limbach (NASDAQ:LMB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.13. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The firm had revenue of $122.24 million during the quarter, compared to analyst estimates of $123.50 million. During the same quarter last year, the business posted $0.46 earnings per share. As a group, equities research analysts expect that Limbach Holdings, Inc. will post 2.43 EPS for the current year.

Insider Activity

In other 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 completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 40,072 shares of company stock worth $2,418,821. 10.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Limbach

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Limbach in the third quarter worth approximately $794,000. Truist Financial Corp lifted its holdings in shares of Limbach by 21.0% in the 2nd quarter. Truist Financial Corp now owns 9,049 shares of the construction company's stock worth $515,000 after buying an additional 1,569 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Limbach during the 2nd quarter worth $223,000. Thrivent Financial for Lutherans purchased a new position in shares of Limbach during the second quarter valued at $2,653,000. Finally, Brighton Jones LLC raised its holdings in shares of Limbach by 7.2% in the second quarter. Brighton Jones LLC now owns 14,106 shares of the construction company's stock valued at $803,000 after acquiring an additional 943 shares in the last quarter. 55.85% of the stock is owned by hedge funds and other 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.

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