Limbach (NASDAQ:LMB) Sees Unusually-High Trading Volume – What’s Next?

Shares of Limbach Holdings, Inc. (NASDAQ:LMB) saw an uptick in trading volume on Tuesday . 156,481 shares traded hands during 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LMB. Stifel Nicolaus dropped 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. Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Lake Street Capital lifted their target price on shares of Limbach from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday. Wall Street Zen lowered shares of Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Limbach in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $70.25.

Limbach Price Performance

The company has a market capitalization of $579.56 million, a P/E ratio of 19.43 and a beta of 1.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The firm’s 50-day moving average is $62.47 and its 200-day moving average is $75.86.

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

Insider Buying and Selling

In related news, EVP Jay Sharp sold 4,871 shares of Limbach 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LMB. Comerica Bank increased its holdings in Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after acquiring an additional 167 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Limbach by 5.5% in the first quarter. AQR Capital Management LLC now owns 16,903 shares of the construction company’s stock worth $1,259,000 after purchasing an additional 876 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Limbach by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock valued at $451,000 after purchasing an additional 241 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Limbach by 2.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company’s stock valued at $21,583,000 after purchasing an additional 7,771 shares during the period. Finally, Cetera Investment Advisers purchased a new position in shares of Limbach during the 2nd quarter valued at $421,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

About Limbach

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.