Limbach Holdings, Inc. (NASDAQ:LMB) Shares Bought by Royce & Associates LP

Royce & Associates LP lifted its position in Limbach Holdings, Inc. (NASDAQ:LMB) by 35.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,578 shares of the construction company’s stock after acquiring an additional 65,082 shares during the quarter. Royce & Associates LP owned 2.21% of Limbach worth $18,908,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in LMB. Allspring Global Investments Holdings LLC acquired a new position in shares of Limbach in the 2nd quarter worth approximately $3,532,000. Russell Investments Group Ltd. lifted its holdings in shares of Limbach by 368.5% in the 1st quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock worth $2,977,000 after purchasing an additional 56,535 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Limbach in the 2nd quarter worth approximately $2,653,000. Vanguard Group Inc. lifted its holdings in shares of Limbach by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock worth $23,464,000 after purchasing an additional 32,030 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Limbach by 6.4% in the 2nd quarter. Renaissance Technologies LLC now owns 394,871 shares of the construction company’s stock worth $22,480,000 after purchasing an additional 23,700 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Insider Activity

In other news, Director Joshua Horowitz sold 7,272 shares of Limbach stock in a transaction on Monday, August 19th. The stock was sold at an average price of $59.85, for a total transaction of $435,229.20. Following the transaction, the director now directly owns 210,000 shares in the company, valued at approximately $12,568,500. This trade represents a 3.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 19,272 shares of company stock worth $1,188,349. 10.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on LMB. Stifel Nicolaus began coverage on Limbach in a report on Friday. They issued a “buy” rating and a $108.00 price target on the stock. StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Roth Mkm lifted their target price on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Limbach Stock Up 3.7 %

Shares of Limbach stock opened at $92.09 on Friday. The business’s fifty day moving average price is $79.36 and its two-hundred day moving average price is $64.96. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $1.04 billion, a P/E ratio of 41.86, a PEG ratio of 2.95 and a beta of 0.97. Limbach Holdings, Inc. has a 1-year low of $35.24 and a 1-year high of $98.36.

Limbach (NASDAQ:LMB) last announced its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $133.90 million for the quarter, compared to the consensus estimate of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. As a group, research analysts forecast that Limbach Holdings, Inc. will post 2.58 EPS for the current 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.