Limbach (NASDAQ:LMB) Reaches New 1-Year High After Earnings Beat

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $90.00 and last traded at $89.37, with a volume of 157691 shares trading hands. The stock had previously closed at $77.79.

The construction company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share.

Analyst Ratings Changes

Several brokerages have recently weighed in on LMB. Roth Mkm increased their price objective on shares of Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday. StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Insider Transactions at Limbach

In other Limbach news, Director Joshua Horowitz sold 5,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $64.02, for a total transaction of $320,100.00. Following the transaction, the director now owns 190,000 shares in the company, valued at $12,163,800. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 40,072 shares of company stock valued at $2,418,821. 10.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Limbach

Institutional investors and hedge funds have recently made changes to their positions in the company. American Capital Advisory LLC acquired a new position in Limbach during the 3rd quarter worth approximately $25,000. nVerses Capital LLC bought a new stake in Limbach during the 3rd quarter worth $53,000. Harbor Capital Advisors Inc. increased its holdings in Limbach by 6.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after purchasing an additional 162 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Limbach in the second quarter valued at about $223,000. Finally, Brendel Financial Advisors LLC bought a new stake in shares of Limbach during the second quarter worth about $231,000. Institutional investors own 55.85% of the company’s stock.

Limbach Price Performance

The company has a 50 day moving average price of $74.57 and a 200-day moving average price of $62.45. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 40.82, a P/E/G ratio of 2.62 and a beta of 0.97.

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.