Bank of America Corp DE Sells 22,988 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Bank of America Corp DE lessened its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 73.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,105 shares of the construction company's stock after selling 22,988 shares during the period. Bank of America Corp DE owned about 0.07% of Limbach worth $693,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Next Century Growth Investors LLC acquired a new position in Limbach during the fourth quarter worth approximately $13,374,000. First Trust Advisors LP raised its stake in Limbach by 67.5% in the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock valued at $27,578,000 after acquiring an additional 129,869 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Limbach by 41.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 216,567 shares of the construction company's stock valued at $18,525,000 after purchasing an additional 62,987 shares during the last quarter. Thames Capital Management LLC bought a new position in Limbach during the fourth quarter worth $4,481,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Limbach by 698.7% in the fourth quarter. JPMorgan Chase & Co. now owns 41,483 shares of the construction company's stock valued at $3,548,000 after purchasing an additional 36,289 shares during the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LMB shares. Stifel Nicolaus raised their target price on shares of Limbach from $130.00 to $141.00 and gave the stock a "buy" rating in a research note on Monday, June 2nd. Roth Capital restated a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $115.33.

Limbach Price Performance

Limbach stock traded down $4.18 during trading hours on Friday, reaching $137.66. 344,591 shares of the stock were exchanged, compared to its average volume of 180,427. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. Limbach Holdings, Inc. has a twelve month low of $48.17 and a twelve month high of $142.10. The company has a market cap of $1.60 billion, a P/E ratio of 62.57, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. The stock has a 50 day moving average of $110.06 and a two-hundred day moving average of $95.96.

Limbach (NASDAQ:LMB - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.82. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The business had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. During the same quarter last year, the business posted $0.69 EPS. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Limbach 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.