Limbach Holdings, Inc. (NASDAQ:LMB) Sees Significant Decline in Short Interest

Limbach Holdings, Inc. (NASDAQ:LMB) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 559,800 shares, a decline of 14.3% from the March 31st total of 652,900 shares. Approximately 5.7% of the shares of the company are sold short. Based on an average daily volume of 225,600 shares, the days-to-cover ratio is presently 2.5 days.

Wall Street Analyst Weigh In

LMB has been the topic of several analyst reports. Stifel Nicolaus set a $103.00 target price on Limbach in a research report on Wednesday, March 12th. Lake Street Capital lifted their price objective on Limbach from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th.

Limbach Trading Up 4.4 %

Shares of Limbach stock opened at $103.20 on Monday. The company has a fifty day moving average of $80.69 and a 200 day moving average of $87.94. Limbach has a fifty-two week low of $43.78 and a fifty-two week high of $107.00. The company has a market capitalization of $1.20 billion, a P/E ratio of 46.91, a P/E/G 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) last issued its earnings results on Monday, March 10th. The construction company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.31. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The company had revenue of $143.70 million for the quarter, compared to the consensus estimate of $149.37 million. During the same quarter last year, the company earned $0.68 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, sell-side analysts anticipate that Limbach will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 25,400 shares of Limbach 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 transaction, the director now owns 164,600 shares in the company, valued at $12,415,778. This trade represents a 13.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Limbach

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Limbach by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 604,397 shares of the construction company’s stock valued at $51,700,000 after acquiring an additional 3,001 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of Limbach by 0.4% during the 4th quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company’s stock worth $32,025,000 after purchasing an additional 1,546 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Limbach by 67.5% during the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company’s stock valued at $27,578,000 after buying an additional 129,869 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Limbach by 41.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 216,567 shares of the construction company’s stock worth $18,525,000 after buying an additional 62,987 shares during the last quarter. Finally, Bessemer Group Inc. bought a new position in shares of Limbach during the 1st quarter worth approximately $11,705,000. Hedge funds and other 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.