Limbach (NASDAQ:LMB) Sees Strong Trading Volume – Here’s Why

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) saw unusually-strong trading volume on Tuesday . 156,481 shares were traded during mid-day trading, a decline of 39% from the previous session’s volume of 258,435 shares.The stock last traded at $42.7860 and had previously closed at $41.22.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LMB. Wall Street Zen downgraded shares of Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Stifel Nicolaus lowered their price target on shares of Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Royal Bank Of Canada set a $50.00 price objective on Limbach in a report on Friday, August 21st. JPMorgan Chase & Co. downgraded Limbach from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $60.00 to $50.00 in a research report on Friday, August 21st. Finally, Zacks Research lowered Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $62.00.

Limbach Stock Up 7.8%

The company has a market capitalization of $530.17 million, a PE ratio of 17.78 and a beta of 1.45. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50 day moving average is $63.83 and its 200 day moving average is $76.51.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.29). Limbach had a net margin of 4.42% and a return on equity of 23.22%. The business had revenue of $173.46 million during the quarter, compared to analysts’ expectations of $177.33 million. On average, sell-side analysts anticipate that Limbach Holdings, Inc. will post 4.17 EPS for the current fiscal year.

Insider Buying and Selling at Limbach

In related news, EVP Jay Sharp sold 4,871 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $79.82, for a total transaction of $388,803.22. Following the sale, the executive vice president directly owned 73,456 shares in the company, valued at approximately $5,863,257.92. The trade was a 6.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its holdings in Limbach by 23.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock valued at $53,000 after buying an additional 130 shares in the last quarter. Comerica Bank lifted its holdings in shares of Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after buying an additional 167 shares in the last quarter. State of Wyoming purchased a new stake in shares of Limbach in the second quarter worth about $71,000. Fifth Third Bancorp bought a new position in shares of Limbach in the first quarter valued at approximately $85,000. Finally, Royal Bank of Canada grew its stake in Limbach by 34.5% during the fourth quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock valued at $113,000 after acquiring an additional 371 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

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.