Limbach (NASDAQ:LMB) Stock Price Down 5.2% – Here’s Why

Limbach Holdings, Inc. (NASDAQ:LMB) shares traded down 5.2% during trading on Thursday . The company traded as low as $98.14 and last traded at $99.23. 21,621 shares traded hands during trading, a decline of 90% from the average session volume of 216,349 shares. The stock had previously closed at $104.65.

Analysts Set New Price Targets

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

Limbach Price Performance

The business’s fifty day moving average price is $95.30 and its 200-day moving average price is $79.28. The company has a market capitalization of $1.15 billion, a P/E ratio of 46.56, a P/E/G ratio of 2.78 and a beta of 1.11. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14.

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

Insiders Place Their Bets

In other Limbach news, Director David Richard Gaboury bought 531 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of $94.51 per share, for a total transaction of $50,184.81. Following the transaction, the director now directly owns 2,071 shares in the company, valued at $195,730.21. This trade represents a 34.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LMB. American Capital Advisory LLC bought a new stake in shares of Limbach in the 3rd quarter valued at about $25,000. nVerses Capital LLC bought a new stake in Limbach in the third quarter valued at approximately $53,000. Harbor Capital Advisors Inc. boosted its stake in shares of Limbach by 6.3% during the third 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 during the period. Quest Partners LLC purchased a new stake in shares of Limbach during the third quarter valued at approximately $207,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Limbach in the second quarter worth approximately $223,000. 55.85% of the stock is 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.