Limbach (NASDAQ:LMB) Stock Price Up 4.6%

Limbach Holdings, Inc. (NASDAQ:LMB)’s share price shot up 4.6% on Friday . The company traded as high as $80.62 and last traded at $80.62. 178,624 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 169,042 shares. The stock had previously closed at $77.07.

Wall Street Analyst Weigh In

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

Limbach Trading Up 4.6 %

The stock has a market cap of $901.57 million, a price-to-earnings ratio of 35.85, a P/E/G ratio of 2.35 and a beta of 0.95. The business’s fifty day simple moving average is $62.93 and its 200 day simple moving average is $54.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.63.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.13. Limbach had a net margin of 5.08% and a return on equity of 21.06%. The firm had revenue of $122.24 million for the quarter, compared to analyst estimates of $123.50 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, research analysts predict that Limbach Holdings, Inc. will post 2.43 EPS for the current year.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 12,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $59.17, for a total transaction of $710,040.00. Following the completion of the transaction, the director now directly owns 237,672 shares of the company’s stock, valued at approximately $14,063,052.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 40,072 shares of company stock valued at $2,418,821 over the last three months. Company insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On Limbach

A number of institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in shares of Limbach during the 2nd quarter valued at about $223,000. Brendel Financial Advisors LLC acquired a new position in Limbach in the second quarter worth approximately $231,000. Meeder Asset Management Inc. increased its holdings in shares of Limbach by 7.7% in the second quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock valued at $232,000 after buying an additional 292 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Limbach during the 4th quarter valued at $235,000. Finally, PFG Advisors bought a new stake in shares of Limbach during the 1st quarter worth $253,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

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.