Limbach (NASDAQ:LMB) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Limbach (NASDAQ:LMB) from a buy rating to a hold rating in a research report report published on Thursday.

Separately, Roth Mkm lifted their target price on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Limbach Trading Up 3.7 %

Shares of LMB opened at $92.09 on Thursday. The business’s 50-day moving average price is $79.36 and its 200 day moving average price is $65.10. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.04 billion, a P/E ratio of 41.86, a P/E/G ratio of 2.97 and a beta of 0.97. Limbach has a 1-year low of $35.24 and a 1-year high of $98.36.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. The firm had revenue of $133.90 million for the quarter, compared to the consensus estimate of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 EPS. Analysts expect that Limbach will post 2.58 earnings per share for the current year.

Insider Activity at Limbach

In related news, Director Joshua Horowitz sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $61.86, for a total value of $433,020.00. Following the completion of the sale, the director now owns 203,000 shares of the company’s stock, valued at approximately $12,557,580. The trade was a 3.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 19,272 shares of company stock valued at $1,188,349. 10.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Limbach

Several large investors have recently made changes to their positions in LMB. Rockefeller Capital Management L.P. bought a new stake in shares of Limbach in the 3rd quarter valued at approximately $11,635,000. Royce & Associates LP boosted its position in Limbach by 35.3% during the third quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock worth $18,908,000 after purchasing an additional 65,082 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Limbach during the second quarter worth approximately $3,532,000. Russell Investments Group Ltd. boosted its position in Limbach by 368.5% during the first quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock worth $2,977,000 after purchasing an additional 56,535 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Limbach by 186.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 83,945 shares of the construction company’s stock worth $6,360,000 after purchasing an additional 54,599 shares during the period. 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.