Limbach (NASDAQ:LMB) Trading Down 4.9% – What’s Next?

by · The Markets Daily

Limbach Holdings, Inc. (NASDAQ:LMB – Get Free Report) shares traded down 4.9% on Friday . The stock traded as low as $76.85 and last traded at $77.11. 72,918 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 164,100 shares. The stock had previously closed at $81.09.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th.

View Our Latest Stock Analysis on LMB

Limbach Stock Down 5.8 %

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 company has a fifty day simple moving average of $72.26 and a two-hundred day simple moving average of $60.08. The firm has a market capitalization of $861.14 million, a PE ratio of 34.89, a PEG ratio of 2.77 and a beta of 0.96.

Limbach (NASDAQ:LMB – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.13. The company had revenue of $122.24 million for the quarter, compared to the consensus estimate of $123.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. During the same quarter last year, the company earned $0.46 earnings per share. Analysts forecast that Limbach Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 5,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $64.02, for a total value of $320,100.00. Following the sale, the director now owns 190,000 shares in the company, valued at $12,163,800. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 40,072 shares of company stock worth $2,418,821. Company insiders own 10.20% of the company’s stock.

Institutional Trading of Limbach

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mraz Amerine & Associates Inc. purchased a new position in Limbach in the 3rd quarter valued at $265,000. Allspring Global Investments Holdings LLC raised its stake in shares of Limbach by 34.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 83,385 shares of the construction company’s stock valued at $6,317,000 after acquiring an additional 21,346 shares during the period. nVerses Capital LLC purchased a new stake in shares of Limbach in the 3rd quarter valued at $53,000. SG Americas Securities LLC acquired a new position in Limbach during the 3rd quarter worth $794,000. Finally, Truist Financial Corp boosted its stake in shares of Limbach by 21.0% in the 2nd quarter. Truist Financial Corp now owns 9,049 shares of the construction company’s stock valued at $515,000 after buying an additional 1,569 shares during the period. 55.85% of the stock is owned by institutional investors and hedge funds.

About Limbach

(Get Free Report)

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.

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