Limbach (NASDAQ:LMB) Reaches New 52-Week High – What’s Next?

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $138.03 and last traded at $137.46, with a volume of 234633 shares. The stock had previously closed at $135.23.

Analyst Ratings Changes

LMB has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on Limbach from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Monday, June 2nd. Roth Capital reiterated a “buy” rating on shares of Limbach in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.33.

Limbach Price Performance

The firm’s fifty day simple moving average is $106.00 and its 200 day simple moving average is $95.11. The firm has a market cap of $1.60 billion, a P/E ratio of 62.48, a P/E/G ratio of 2.22 and a beta of 1.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.30 by $0.82. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The business had revenue of $133.11 million during the quarter, compared to the consensus estimate of $121.06 million. During the same quarter in the prior year, the firm earned $0.69 EPS. The business’s revenue was up 11.9% on a year-over-year basis. As a group, analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Limbach

In related news, Director Joshua Horowitz sold 25,400 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $75.43, for a total value of $1,915,922.00. Following the completion of the transaction, the director now owns 164,600 shares of the company’s stock, valued at approximately $12,415,778. This trade represents a 13.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LMB. Kestra Private Wealth Services LLC lifted its holdings in shares of Limbach by 36.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 11,563 shares of the construction company’s stock valued at $989,000 after acquiring an additional 3,075 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Limbach by 1.8% in the 4th quarter. Rhumbline Advisers now owns 14,065 shares of the construction company’s stock valued at $1,203,000 after acquiring an additional 255 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Limbach by 11.1% in the 4th quarter. Principal Financial Group Inc. now owns 12,910 shares of the construction company’s stock valued at $1,104,000 after acquiring an additional 1,294 shares during the last quarter. Navellier & Associates Inc. lifted its holdings in shares of Limbach by 93.1% in the 4th quarter. Navellier & Associates Inc. now owns 18,760 shares of the construction company’s stock valued at $1,605,000 after acquiring an additional 9,045 shares during the last quarter. Finally, IFP Advisors Inc bought a new position in shares of Limbach in the 4th quarter valued at about $37,000. Institutional investors own 55.85% of the company’s stock.

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.