Limbach Holdings, Inc. (NASDAQ:LMB) Sees Large Decrease in Short Interest

Limbach Holdings, Inc. (NASDAQ:LMB) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 898,228 shares, a decrease of 13.0% from the January 15th total of 1,033,018 shares. Approximately 8.6% of the company’s stock are sold short. Based on an average daily trading volume, of 190,514 shares, the days-to-cover ratio is currently 4.7 days. Based on an average daily trading volume, of 190,514 shares, the days-to-cover ratio is currently 4.7 days. Approximately 8.6% of the company’s stock are sold short.

Insider Buying and Selling at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $77.98, for a total transaction of $155,960.00. Following the completion of the transaction, the insider owned 64,979 shares in the company, valued at $5,067,062.42. The trade was a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank lifted its stake in Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after acquiring an additional 167 shares during the period. AQR Capital Management LLC raised its holdings in shares of Limbach by 5.5% during the first quarter. AQR Capital Management LLC now owns 16,903 shares of the construction company’s stock worth $1,259,000 after purchasing an additional 876 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Limbach by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock valued at $451,000 after purchasing an additional 241 shares during the period. Goldman Sachs Group Inc. lifted its position in Limbach by 2.8% during the first quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock valued at $21,583,000 after purchasing an additional 7,771 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in Limbach by 16.7% in the second quarter. KLP Kapitalforvaltning AS now owns 2,100 shares of the construction company’s stock valued at $294,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Stock Performance

Shares of LMB opened at $88.14 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a 50-day moving average of $82.26 and a two-hundred day moving average of $91.25. The stock has a market cap of $1.03 billion, a P/E ratio of 28.99 and a beta of 1.29. Limbach has a one year low of $63.02 and a one year high of $154.05.

Limbach announced that its board has approved a share buyback program on Monday, December 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to buy up to 5.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

LMB has been the topic of several analyst reports. Stifel Nicolaus cut their price target on shares of Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Wall Street Zen cut Limbach from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research raised Limbach from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. initiated coverage on Limbach in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $100.00 price target for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Limbach in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Limbach currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Limbach Company Profile

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.