Limbach (NASDAQ:LMB) Shares Up 4.6%

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) shot up 4.6% during trading on Friday . The company traded as high as $80.62 and last traded at $80.62. 178,624 shares traded hands during trading, an increase of 6% from the average session volume of 169,042 shares. The stock had previously closed at $77.07.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th.

Limbach Stock Performance

The firm’s 50 day simple moving average is $62.93 and its 200-day simple moving average is $54.16. The company has a market capitalization of $901.57 million, a price-to-earnings ratio of 35.85, a P/E/G ratio of 2.35 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.13. The firm had revenue of $122.24 million for the quarter, compared to analyst estimates of $123.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. During the same period in the previous year, the firm earned $0.46 earnings per share. Analysts expect that Limbach Holdings, Inc. will post 2.43 EPS for the current year.

Insider Transactions at Limbach

In other news, Director Joshua Horowitz sold 8,800 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $59.14, for a total transaction of $520,432.00. Following the transaction, the director now directly owns 223,272 shares in the company, valued at approximately $13,204,306.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 40,072 shares of company stock valued at $2,418,821 over the last three months. 10.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Limbach

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new position in shares of Limbach during the 2nd quarter worth $223,000. Brendel Financial Advisors LLC acquired a new position in Limbach during the second quarter worth $231,000. Meeder Asset Management Inc. increased its position in Limbach by 7.7% during the second quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock worth $232,000 after buying an additional 292 shares during the last quarter. Virtu Financial LLC bought a new position in Limbach during the fourth quarter valued at about $235,000. Finally, PFG Advisors acquired a new stake in shares of Limbach in the first quarter worth about $253,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

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.