Limbach (NASDAQ:LMB) Reaches New 12-Month High - Here's What Happened

Limbach Holdings, Inc. (NASDAQ:LMB - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $134.43 and last traded at $133.83, with a volume of 82854 shares traded. The stock had previously closed at $127.95.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LMB. Stifel Nicolaus set a $103.00 price objective on shares of Limbach in a report on Wednesday, March 12th. Roth Capital reissued a "buy" rating on shares of Limbach in a report on Wednesday, May 7th. Finally, Lake Street Capital upped their price objective on Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $102.67.

Limbach Price Performance

The stock has a 50-day simple moving average of $95.43 and a 200 day simple moving average of $92.52. The stock has a market capitalization of $1.57 billion, a P/E ratio of 61.64, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 earnings per share 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 20.16% and a net margin of 5.08%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. On average, equities analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the sale, the director now owns 164,600 shares of the company's stock, valued at approximately $12,415,778. The trade was a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LMB. Bessemer Group Inc. acquired a new stake in shares of Limbach during the first quarter worth $11,705,000. Next Century Growth Investors LLC bought a new position in shares of Limbach in the fourth quarter worth $13,374,000. Lord Abbett & CO. LLC bought a new position in shares of Limbach in the first quarter valued at approximately $9,693,000. First Trust Advisors LP increased its holdings in Limbach by 67.5% during the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock worth $27,578,000 after acquiring an additional 129,869 shares during the period. Finally, Northern Trust Corp boosted its holdings in Limbach by 81.7% in the 1st quarter. Northern Trust Corp now owns 166,716 shares of the construction company's stock valued at $12,415,000 after purchasing an additional 74,986 shares during the period. Institutional investors and hedge funds own 55.85% of the company's stock.

Limbach Company Profile

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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