Limbach Holdings, Inc. (NASDAQ:LMB) Short Interest Down 21.2% in October

Limbach Holdings, Inc. (NASDAQ:LMB) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 543,000 shares, a decline of 21.2% from the October 15th total of 689,300 shares. Based on an average daily volume of 138,200 shares, the short-interest ratio is presently 3.9 days. Approximately 5.5% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Roth Mkm upped their target price on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus began coverage on shares of Limbach in a research report on Friday. They set a “buy” rating and a $108.00 price objective on the stock. Finally, StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a report on Thursday.

Insider Transactions at Limbach

In other Limbach news, Director Joshua Horowitz sold 7,272 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $59.85, for a total transaction of $435,229.20. Following the transaction, the director now owns 210,000 shares in the company, valued at approximately $12,568,500. The trade was a 3.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 19,272 shares of company stock worth $1,188,349 in the last ninety days. Insiders own 10.20% of the company’s stock.

Institutional Trading of Limbach

Institutional investors have recently added to or reduced their stakes in the stock. American Capital Advisory LLC bought a new position in shares of Limbach in the 3rd quarter worth about $25,000. nVerses Capital LLC purchased a new position in Limbach in the third quarter worth about $53,000. Harbor Capital Advisors Inc. boosted its stake in shares of Limbach by 6.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after acquiring an additional 162 shares during the last quarter. Quest Partners LLC purchased a new stake in Limbach in the third quarter worth about $207,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Limbach in the second quarter worth approximately $223,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Up 3.7 %

NASDAQ:LMB traded up $3.28 during trading hours on Friday, reaching $92.09. 124,841 shares of the stock were exchanged, compared to its average volume of 163,140. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. Limbach has a twelve month low of $35.24 and a twelve month high of $98.36. The firm has a 50 day moving average of $79.36 and a 200 day moving average of $64.96. The stock has a market cap of $1.04 billion, a PE ratio of 41.86, a PEG ratio of 2.95 and a beta of 0.97.

Limbach (NASDAQ:LMB) last announced 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. The company had revenue of $133.90 million for the quarter, compared to analyst estimates of $129.50 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 EPS. On average, equities analysts expect that Limbach will post 2.58 earnings per share for the current year.

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.