Limbach Holdings, Inc. (NASDAQ:LMB) Short Interest Up 18.5% in March

Limbach Holdings, Inc. (NASDAQ:LMB) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 652,900 shares, an increase of 18.5% from the March 15th total of 550,800 shares. Currently, 6.6% of the shares of the company are sold short. Based on an average daily trading volume, of 215,800 shares, the short-interest ratio is currently 3.0 days.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 164,600 shares of the company’s stock, valued at approximately $12,415,778. This trade represents a 13.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Limbach

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Limbach by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 604,397 shares of the construction company’s stock worth $51,700,000 after purchasing an additional 3,001 shares during the last quarter. Wasatch Advisors LP raised its stake in Limbach by 0.4% in the fourth quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company’s stock valued at $32,025,000 after buying an additional 1,546 shares in the last quarter. First Trust Advisors LP lifted its holdings in Limbach by 67.5% during the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company’s stock worth $27,578,000 after buying an additional 129,869 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Limbach by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 238,445 shares of the construction company’s stock worth $18,068,000 after acquiring an additional 5,093 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Limbach by 11.1% during the 3rd quarter. State Street Corp now owns 219,120 shares of the construction company’s stock worth $16,601,000 after acquiring an additional 21,951 shares in the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Trading Up 3.9 %

LMB stock traded up $3.23 during mid-day trading on Tuesday, hitting $85.38. 41,252 shares of the company were exchanged, compared to its average volume of 171,431. The business has a fifty day simple moving average of $79.12 and a 200-day simple moving average of $87.10. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. Limbach has a 12-month low of $38.87 and a 12-month high of $107.00. The firm has a market capitalization of $969.32 million, a P/E ratio of 38.94, a PEG ratio of 2.22 and a beta of 1.01.

Limbach (NASDAQ:LMB) last issued its quarterly earnings results on Monday, March 10th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The company had revenue of $143.70 million for the quarter, compared to analyst estimates of $149.37 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts predict that Limbach will post 2.54 earnings per share for the current fiscal year.

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.