Limbach (NASDAQ:LMB) Hits New 1-Year High at $66.70

Limbach Holdings, Inc. (NASDAQ:LMB)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $66.70 and last traded at $65.59, with a volume of 26709 shares. The stock had previously closed at $64.47.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Limbach from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th.

Limbach Trading Up 3.7 %

The business has a 50 day simple moving average of $61.07 and a two-hundred day simple moving average of $53.15. The stock has a market cap of $795.22 million, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.15.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.13. Limbach had a net margin of 5.08% and a return on equity of 21.06%. The business had revenue of $122.24 million during the quarter, compared to the consensus estimate of $123.50 million. During the same quarter last year, the company earned $0.46 earnings per share. As a group, equities analysts anticipate that Limbach Holdings, Inc. will post 2.43 EPS for the current year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 5,000 shares of Limbach stock in a transaction on Monday, September 9th. The shares were sold at an average price of $64.02, for a total value of $320,100.00. Following the completion of the transaction, the director now owns 190,000 shares of the company’s stock, valued at $12,163,800. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 47,072 shares of company stock valued at $2,818,311 over the last three months. 10.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Limbach

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Truist Financial Corp raised its position in shares of Limbach by 21.0% during the 2nd quarter. Truist Financial Corp now owns 9,049 shares of the construction company’s stock worth $515,000 after purchasing an additional 1,569 shares during the period. The Manufacturers Life Insurance Company bought a new position in Limbach during the 2nd quarter worth $223,000. Thrivent Financial for Lutherans acquired a new stake in Limbach in the second quarter worth $2,653,000. Brighton Jones LLC lifted its stake in 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 buying an additional 943 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Limbach by 6.4% during the second quarter. Renaissance Technologies LLC now owns 394,871 shares of the construction company’s stock valued at $22,480,000 after acquiring an additional 23,700 shares during the period. 55.85% of the stock is currently owned by institutional investors and hedge funds.

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.