34,135 Shares in Limbach Holdings, Inc. $LMB Purchased by Skylands Capital LLC

Key Points

• Skylands Capital acquired 34,135 shares of Limbach Holdings in the third quarter, valued at approximately $1.67 million and representing a 0.29% stake. Institutional investors collectively own 55.85% of the company.
• Limbach insiders have continued buying shares, including Director Joshua Horowitz’s purchase of 4,008 shares; insiders acquired 7,820 shares worth $391,002 over the past three months.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $67.50. Shares recently traded at $48.34 after the company missed quarterly earnings and revenue expectations.

Skylands Capital LLC acquired a new position in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 34,135 shares of the construction company's stock, valued at approximately $1,670,000. Skylands Capital LLC owned 0.29% of Limbach as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new position in shares of Limbach during the 3rd quarter valued at $25,000. Parkside Financial Bank & Trust bought a new position in Limbach during the second quarter worth $36,000. VELA Investment Management LLC boosted its stake in Limbach by 8.6% during the second quarter. VELA Investment Management LLC now owns 45,166 shares of the construction company's stock worth $3,478,000 after acquiring an additional 3,566 shares in the last quarter. Corient Private Wealth LP boosted its stake in Limbach by 34.5% during the second quarter. Corient Private Wealth LP now owns 23,135 shares of the construction company's stock worth $1,781,000 after acquiring an additional 5,938 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC bought a new position in Limbach during the second quarter worth $3,620,000. Institutional investors own 55.85% of the company's stock.

Insider Transactions at Limbach

In other Limbach news, Director Joshua Horowitz purchased 4,008 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $50.71 per share, for a total transaction of $203,245.68. Following the purchase, the director owned 171,208 shares of the company's stock, valued at $8,681,957.68. This trade represents a 2.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have acquired 7,820 shares of company stock valued at $391,002. Company insiders own 7.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LMB shares. JPMorgan Chase & Co. cut shares of Limbach from a "neutral" rating to an "underweight" rating and reduced their price target for the stock from $60.00 to $50.00 in a report on Friday, August 21st. Stifel Nicolaus dropped their price objective on shares of Limbach from $86.00 to $75.00 and set a "buy" rating on the stock in a report on Thursday, October 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Limbach in a report on Wednesday, August 5th. Lake Street Capital increased their price objective on shares of Limbach from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Finally, Zacks Research raised shares of Limbach from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $67.50.

Limbach Trading Up 1.7%

Shares of Limbach stock opened at $48.34 on Thursday. The stock has a market capitalization of $576.70 million, a PE ratio of 19.34 and a beta of 1.33. Limbach Holdings, Inc. has a 52 week low of $40.74 and a 52 week high of $114.95. The stock has a 50 day moving average price of $48.03 and a two-hundred day moving average price of $67.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.29). Limbach had a return on equity of 23.22% and a net margin of 4.42%. The firm had revenue of $173.46 million for the quarter, compared to analyst estimates of $177.33 million. As a group, equities analysts anticipate that Limbach Holdings, Inc. will post 4.29 earnings per share for the current fiscal year.

Limbach Profile

Limbach Holdings, Inc is a building systems solutions provider that designs, installs, services and maintains critical mechanical, electrical, plumbing and building automation systems. Its capabilities include heating, ventilation and air conditioning (HVAC), energy management, plumbing, electrical infrastructure, controls and other building systems that support the operation and efficiency of complex facilities.

The company serves institutional and commercial customers, including healthcare providers, universities and other educational institutions, life sciences organizations, government and public-sector entities, and industrial and commercial property owners.

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