Limbach (NASDAQ:LMB) Sees Unusually-High Trading Volume – Here’s What Happened

Limbach Holdings, Inc. (NASDAQ:LMB) shares saw unusually-high trading volume on Wednesday . Approximately 81,790 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 135,102 shares.The stock last traded at $91.62 and had previously closed at $100.28.

Analyst Ratings Changes

LMB has been the subject of several analyst reports. Roth Mkm raised their target price on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus raised their price objective on Limbach from $108.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, StockNews.com cut Limbach from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Limbach Price Performance

The firm has a market cap of $1.06 billion, a P/E ratio of 42.91, a P/E/G ratio of 2.55 and a beta of 1.11. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $94.47 and its two-hundred day moving average is $77.48.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm had revenue of $133.90 million during the quarter, compared to analyst estimates of $129.50 million. During the same period last year, the company posted $0.61 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David Richard Gaboury purchased 531 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were acquired at an average price of $94.51 per share, for a total transaction of $50,184.81. Following the completion of the acquisition, the director now owns 2,071 shares in the company, valued at approximately $195,730.21. The trade was a 34.48 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

Institutional investors have recently modified their holdings of the company. American Capital Advisory LLC bought a new stake in Limbach during the 3rd quarter valued at $25,000. nVerses Capital LLC bought a new stake in shares of Limbach during the third quarter worth about $53,000. Quest Partners LLC acquired a new stake in shares of Limbach in the 3rd quarter worth about $207,000. Harbor Capital Advisors Inc. raised its holdings in shares of Limbach by 6.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after acquiring an additional 162 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Limbach in the 3rd quarter valued at about $262,000. 55.85% of the stock is 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.