Limbach (NASDAQ:LMB) Stock Price Up 5.3% – Here’s What Happened

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) traded up 5.3% during mid-day trading on Tuesday . The company traded as high as $83.87 and last traded at $83.32. 62,873 shares were traded during mid-day trading, a decline of 70% from the average session volume of 212,518 shares. The stock had previously closed at $79.09.

Wall Street Analyst Weigh In

LMB has been the subject of a number of research reports. Zacks Research cut Limbach from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Wall Street Zen lowered Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a research report on Wednesday, December 10th. Finally, Stifel Nicolaus decreased their price objective on shares of Limbach from $146.00 to $132.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Limbach presently has an average rating of “Hold” and an average target price of $144.00.

Limbach Stock Performance

The firm has a 50-day moving average of $82.11 and a two-hundred day moving average of $108.84. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $971.11 million, a PE ratio of 27.48 and a beta of 1.26.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.04). The company had revenue of $184.58 million during the quarter, compared to analysts’ expectations of $184.48 million. Limbach had a return on equity of 30.80% and a net margin of 6.06%.The company’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 EPS. Research analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Limbach declared that its Board of Directors has authorized a stock buyback plan on Monday, December 15th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 5.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Limbach

Several institutional investors have recently bought and sold shares of LMB. Thrivent Financial for Lutherans lifted its position in shares of Limbach by 353.8% during 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 in the last quarter. Invesco Ltd. raised its position in shares of Limbach by 2,041.6% during the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock worth $56,124,000 after purchasing an additional 381,897 shares during the last quarter. First Trust Advisors LP raised its position in shares of Limbach by 1,192.1% during the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock worth $57,606,000 after purchasing an additional 379,357 shares during the last quarter. Wasatch Advisors LP lifted its stake in Limbach by 59.2% in the 2nd quarter. Wasatch Advisors LP now owns 638,879 shares of the construction company’s stock valued at $89,507,000 after buying an additional 237,475 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Limbach by 81.7% in the 1st quarter. Northern Trust Corp now owns 166,716 shares of the construction company’s stock worth $12,415,000 after buying an additional 74,986 shares during the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

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.