Geode Capital Management LLC Buys 5,093 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Geode Capital Management LLC lifted its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 2.2% in the 3rd quarter, Holdings Channel reports. The fund owned 238,445 shares of the construction company’s stock after acquiring an additional 5,093 shares during the quarter. Geode Capital Management LLC’s holdings in Limbach were worth $18,068,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LMB. Harbor Capital Advisors Inc. grew its stake in shares of Limbach by 6.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after acquiring an additional 162 shares in the last quarter. Meeder Asset Management Inc. grew its position in Limbach by 7.7% in the second quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock valued at $232,000 after purchasing an additional 292 shares in the last quarter. American Capital Advisory LLC acquired a new stake in Limbach in the 3rd quarter valued at $25,000. Thrivent Financial for Lutherans lifted its position in Limbach by 0.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 46,987 shares of the construction company’s stock worth $3,560,000 after buying an additional 382 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Limbach by 4.9% during the 3rd quarter. Empowered Funds LLC now owns 8,618 shares of the construction company’s stock worth $653,000 after buying an additional 402 shares during the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on LMB. StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Roth Mkm upped their price objective on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus raised their target price on shares of Limbach from $108.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th.

Insider Activity

In other news, Director David Richard Gaboury acquired 531 shares of Limbach stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of $94.51 per share, for a total transaction of $50,184.81. Following the completion of the acquisition, the director now directly owns 2,071 shares in the company, valued at approximately $195,730.21. The trade was a 34.48 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.20% of the company’s stock.

Limbach Price Performance

Shares of NASDAQ LMB opened at $85.90 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average price is $90.86 and its two-hundred day moving average price is $73.91. The company has a market cap of $968.35 million, a PE ratio of 39.05, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Limbach Holdings, Inc. has a twelve month low of $35.24 and a twelve month high of $107.00.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, topping 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 business had revenue of $133.90 million for the quarter, compared to analyst estimates of $129.50 million. During the same period in the previous year, the firm earned $0.61 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Limbach Company Profile

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.