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

Limbach Holdings, Inc. (NASDAQ:LMB)’s stock price reached a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $90.00 and last traded at $89.37, with a volume of 157691 shares. 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. Limbach had a net margin of 5.08% and a return on equity of 21.06%. The company had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. Limbach’s quarterly revenue was up 4.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LMB. StockNews.com raised shares of Limbach from a “hold” rating to a “buy” rating in a report on Wednesday. Roth Mkm raised their price objective on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday.

Insider Activity at Limbach

In other news, Director Joshua Horowitz sold 5,000 shares of the company’s 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 completion of the sale, the director now owns 190,000 shares of the company’s stock, valued at approximately $12,163,800. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 40,072 shares of company stock valued at $2,418,821 over the last quarter. 10.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Limbach

Several hedge funds and other institutional investors have recently made changes to their positions in LMB. American Capital Advisory LLC bought a new stake in Limbach during the 3rd quarter worth $25,000. nVerses Capital LLC acquired a new stake in shares of Limbach during the third quarter valued at about $53,000. Harbor Capital Advisors Inc. grew its holdings 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 worth $207,000 after purchasing an additional 162 shares during the last quarter. Mraz Amerine & Associates Inc. acquired a new position in shares of Limbach in the third quarter valued at approximately $265,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Limbach in the second quarter valued at approximately $223,000. 55.85% of the stock is owned by institutional investors.

Limbach Trading Up 20.6 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market cap of $1.06 billion, a P/E ratio of 42.83, a price-to-earnings-growth ratio of 2.52 and a beta of 0.97. The business’s fifty day moving average is $75.17 and its 200-day moving average is $62.67.

Limbach Company Profile

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.