Limbach (NASDAQ:LMB) Sets New 1-Year High After Better-Than-Expected Earnings

Limbach Holdings, Inc. (NASDAQ:LMB) shares hit a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $111.09 and last traded at $112.73, with a volume of 52796 shares. The stock had previously closed at $103.33.

The construction company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.82. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The business had revenue of $133.11 million for the quarter, compared to analysts’ expectations of $121.06 million. During the same quarter last year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year.

Wall Street Analyst Weigh In

LMB has been the subject of a number of analyst reports. Lake Street Capital lifted 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. Stifel Nicolaus set a $103.00 target price on Limbach in a research report on Wednesday, March 12th. Finally, Roth Capital reiterated a “buy” rating on shares of Limbach in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.67.

Insider Buying and Selling at Limbach

In related news, Director Joshua Horowitz sold 25,400 shares of the firm’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 directly owns 164,600 shares in the company, valued at $12,415,778. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

Large investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its holdings in shares of Limbach by 5.2% in the fourth quarter. Teacher Retirement System of Texas now owns 3,453 shares of the construction company’s stock valued at $295,000 after purchasing an additional 172 shares during the last quarter. Swiss National Bank grew its position in Limbach by 1.0% in the fourth quarter. Swiss National Bank now owns 19,900 shares of the construction company’s stock valued at $1,702,000 after purchasing an additional 200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Limbach by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,818 shares of the construction company’s stock valued at $498,000 after buying an additional 231 shares during the last quarter. Rhumbline Advisers lifted its position in Limbach by 1.8% during the 4th quarter. Rhumbline Advisers now owns 14,065 shares of the construction company’s stock worth $1,203,000 after buying an additional 255 shares in the last quarter. Finally, Brendel Financial Advisors LLC boosted its stake in shares of Limbach by 8.9% during the 1st quarter. Brendel Financial Advisors LLC now owns 3,120 shares of the construction company’s stock worth $232,000 after buying an additional 256 shares during the last quarter. Institutional investors own 55.85% of the company’s stock.

Limbach Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. The company has a fifty day moving average price of $82.57 and a two-hundred day moving average price of $88.50. The company has a market cap of $1.40 billion, a P/E ratio of 54.75, a PEG ratio of 2.22 and a beta of 1.08.

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.