Raymond James Financial Inc. Invests $2.23 Million in Limbach Holdings, Inc. (NASDAQ:LMB)

Raymond James Financial Inc. purchased a new stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) during the 4th quarter, Holdings Channel reports. The fund purchased 26,066 shares of the construction company’s stock, valued at approximately $2,230,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LMB. IFP Advisors Inc purchased a new position in Limbach during the 4th quarter valued at $37,000. US Bancorp DE bought a new stake in shares of Limbach during the fourth quarter worth $115,000. Bailard Inc. purchased a new stake in shares of Limbach during the fourth quarter valued at $257,000. Sanctuary Advisors LLC bought a new position in shares of Limbach in the third quarter worth about $262,000. Finally, Janus Henderson Group PLC purchased a new position in Limbach in the 3rd quarter worth about $333,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Performance

LMB stock opened at $76.26 on Monday. Limbach Holdings, Inc. has a 1-year low of $38.03 and a 1-year high of $107.00. The business has a 50-day moving average price of $86.13 and a 200 day moving average price of $86.86. The company has a market capitalization of $865.78 million, a P/E ratio of 34.66, a PEG ratio of 2.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57.

Limbach (NASDAQ:LMB) last posted its earnings results on Monday, March 10th. The construction company reported $1.15 EPS for the quarter, beating 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 business 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 firm posted $0.68 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities research analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

LMB has been the subject of several research reports. Lake Street Capital boosted their price objective on shares of 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 price target on Limbach in a report on Wednesday, March 12th.

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.