Limbach (NASDAQ:LMB) Hits New 1-Year High at $82.21

Limbach Holdings, Inc. (NASDAQ:LMB)’s stock price reached a new 52-week high on Monday . The company traded as high as $82.21 and last traded at $80.61, with a volume of 7107 shares changing hands. The stock had previously closed at $80.02.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Limbach from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Limbach Stock Performance

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 stock has a market cap of $896.32 million, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. The firm has a fifty day moving average price of $63.32 and a 200 day moving average price of $54.41.

Limbach (NASDAQ:LMB) last issued its quarterly earnings results 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. The business had revenue of $122.24 million during 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. Research analysts forecast that Limbach Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 5,000 shares of Limbach stock in a transaction dated Monday, September 9th. The stock was 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders sold 40,072 shares of company stock valued at $2,418,821. Insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

Several institutional investors and hedge funds have recently modified their holdings of the stock. Grizzlyrock Capital LLC acquired a new position in shares of Limbach in the 4th quarter valued at $602,000. Vanguard Group Inc. raised its position in shares of Limbach by 6.0% in the first quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock worth $23,464,000 after acquiring an additional 32,030 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Limbach by 368.5% during the 1st quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock worth $2,977,000 after acquiring an additional 56,535 shares in the last quarter. American Century Companies Inc. grew its position in shares of Limbach by 6.0% during the 2nd quarter. American Century Companies Inc. now owns 208,223 shares of the construction company’s stock valued at $11,854,000 after acquiring an additional 11,782 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Limbach in the 2nd quarter valued at about $3,532,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

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.