Limbach Holdings, Inc. (NASDAQ:LMB) Shares Sold by Covestor Ltd

Covestor Ltd reduced its position in Limbach Holdings, Inc. (NASDAQ:LMB) by 44.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 424 shares of the construction company’s stock after selling 346 shares during the quarter. Covestor Ltd’s holdings in Limbach were worth $33,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in shares of Limbach by 20.1% in the 1st quarter. BNP Paribas Financial Markets now owns 8,411 shares of the construction company’s stock worth $348,000 after acquiring an additional 1,406 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Limbach by 8.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,697 shares of the construction company’s stock worth $816,000 after acquiring an additional 1,574 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Limbach by 7.3% in the 1st quarter. Empowered Funds LLC now owns 7,676 shares of the construction company’s stock worth $318,000 after acquiring an additional 525 shares during the last quarter. Russell Investments Group Ltd. increased its stake 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 acquiring an additional 56,535 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Limbach by 6.0% during 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 period. 55.85% of the stock is owned by institutional investors and hedge funds.

Limbach Stock Performance

Shares of Limbach stock opened at $92.09 on Friday. The business has a 50-day moving average of $79.36 and a 200 day moving average of $64.96. Limbach Holdings, Inc. has a 12 month low of $35.24 and a 12 month high of $98.36. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 2.95 and a beta of 0.97. 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 announced its earnings results on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The company had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. During the same period last year, the business posted $0.61 EPS. Limbach’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Limbach Holdings, Inc. will post 2.58 earnings per share for the current year.

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $61.86, for a total transaction of $433,020.00. Following the sale, the director now owns 203,000 shares of the company’s stock, valued at approximately $12,557,580. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 19,272 shares of company stock valued at $1,188,349 in the last quarter. Corporate insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LMB shares. StockNews.com cut Limbach from a “buy” rating to a “hold” rating in a report on Thursday. Roth Mkm increased their price target on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus started coverage on Limbach in a report on Friday. They set a “buy” rating and a $108.00 price target for the company.

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.