Limbach Holdings, Inc. (NASDAQ:LMB) Short Interest Update

Limbach Holdings, Inc. (NASDAQ:LMB) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 898,228 shares, a decline of 13.0% from the January 15th total of 1,033,018 shares. Currently, 8.6% of the company’s stock are short sold. Based on an average daily volume of 190,514 shares, the short-interest ratio is currently 4.7 days. Based on an average daily volume of 190,514 shares, the short-interest ratio is currently 4.7 days. Currently, 8.6% of the company’s stock are short sold.

Insider Buying and Selling at Limbach

In other news, insider Jay Sharp sold 2,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $77.98, for a total transaction of $155,960.00. Following the transaction, the insider owned 64,979 shares in the company, valued at approximately $5,067,062.42. This trade represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.70% of the company’s stock.

Institutional Trading of Limbach

Several large investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Limbach during the second quarter worth $868,000. Castleark Management LLC purchased a new position in shares of Limbach during the 2nd quarter valued at about $2,962,000. Thrivent Financial for Lutherans lifted its holdings in shares of Limbach by 353.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 735,121 shares of the construction company’s stock valued at $71,395,000 after buying an additional 573,136 shares during the period. First Trust Advisors LP boosted its stake in shares of Limbach by 1,192.1% in the second quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock worth $57,606,000 after buying an additional 379,357 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of Limbach in the second quarter worth about $1,705,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on LMB. Stifel Nicolaus lowered their price target on shares of Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Wall Street Zen cut Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. started coverage on Limbach in a research report on Tuesday, February 3rd. They issued a “neutral” rating and a $100.00 price target for the company. Zacks Research upgraded Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Limbach Stock Up 1.6%

Limbach stock opened at $92.62 on Thursday. Limbach has a 1-year low of $63.02 and a 1-year high of $154.05. The business has a fifty day moving average price of $82.97 and a 200-day moving average price of $90.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 30.47 and a beta of 1.29.

Limbach declared that its board has initiated a stock buyback plan on Monday, December 15th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

About Limbach

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.