Limbach (NASDAQ:LMB) Hits New 1-Year High - Here's Why

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as $143.77 and last traded at $142.69, with a volume of 37537 shares. The stock had previously closed at $141.17.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LMB shares. Roth Capital reiterated a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Stifel Nicolaus upped their target price on Limbach from $130.00 to $141.00 and gave the company a "buy" rating in a report on Monday, June 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $115.33.

Limbach Stock Up 1.7%

The firm's 50-day simple moving average is $118.86 and its 200-day simple moving average is $97.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 51.45, a price-to-earnings-growth ratio of 2.62 and a beta of 1.20.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.30 by $0.82. The firm had revenue of $133.11 million during the quarter, compared to analysts' expectations of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. Limbach's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.69 earnings per share. Sell-side analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling at Limbach

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $137.49, for a total value of $274,980.00. Following the completion of the sale, the insider now owns 69,877 shares in the company, valued at $9,607,388.73. The trade was a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.20% of the company's stock.

Hedge Funds Weigh In On Limbach

Hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. acquired a new position in Limbach during the 1st quarter worth about $11,705,000. Next Century Growth Investors LLC acquired a new position in shares of Limbach in the fourth quarter worth approximately $13,374,000. Lord Abbett & CO. LLC bought a new stake in Limbach in the first quarter valued at approximately $9,693,000. First Trust Advisors LP increased its position in shares of Limbach by 67.5% during the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock worth $27,578,000 after buying an additional 129,869 shares during the period. Finally, Northern Trust Corp raised its position in shares of Limbach by 81.7% in the 1st quarter. Northern Trust Corp now owns 166,716 shares of the construction company's stock worth $12,415,000 after acquiring an additional 74,986 shares in the last quarter. Institutional investors 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.

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