Limbach (NASDAQ:LMB) Hits New 1-Year High Following Earnings Beat

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) shares reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $111.09 and last traded at $112.73, with a volume of 52796 shares traded. The stock had previously closed at $103.33.

The construction company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.82. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The company had revenue of $133.11 million during the quarter, compared to analysts' expectations of $121.06 million. During the same period last year, the firm earned $0.69 EPS. The firm's revenue for the quarter was up 11.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LMB shares. Lake Street Capital raised their price target on Limbach from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Stifel Nicolaus set a $103.00 price target on shares of Limbach in a research report on Wednesday, March 12th.

Insider Activity

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $75.43, for a total value of $1,915,922.00. Following the transaction, the director now directly owns 164,600 shares of the company's stock, valued at $12,415,778. This represents a 13.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 10.20% of the company's stock.

Institutional Investors Weigh In On Limbach

A number of institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its holdings in shares of Limbach by 5.2% during the fourth quarter. Teacher Retirement System of Texas now owns 3,453 shares of the construction company's stock valued at $295,000 after acquiring an additional 172 shares during the period. Swiss National Bank increased its stake in shares of Limbach by 1.0% in the fourth quarter. Swiss National Bank now owns 19,900 shares of the construction company's stock valued at $1,702,000 after purchasing an additional 200 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Limbach by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,818 shares of the construction company's stock valued at $498,000 after buying an additional 231 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Limbach by 1.8% during the fourth quarter. Rhumbline Advisers now owns 14,065 shares of the construction company's stock worth $1,203,000 after buying an additional 255 shares during the period. Finally, Brendel Financial Advisors LLC grew its holdings in Limbach by 8.9% in the 1st quarter. Brendel Financial Advisors LLC now owns 3,120 shares of the construction company's stock worth $232,000 after buying an additional 256 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors.

Limbach Stock Up 10.3 %

The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 51.81, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08. The stock's 50 day moving average is $81.09 and its 200 day moving average is $88.09. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14.

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.

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