Bessemer Group Inc. Invests $11.71 Million in Limbach Holdings, Inc. (NASDAQ:LMB)

Bessemer Group Inc. purchased a new position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 157,195 shares of the construction company's stock, valued at approximately $11,705,000. Bessemer Group Inc. owned 1.38% of Limbach as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Next Century Growth Investors LLC bought a new position in shares of Limbach during the fourth quarter valued at $13,374,000. First Trust Advisors LP grew its position in shares of Limbach by 67.5% during the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock worth $27,578,000 after purchasing an additional 129,869 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Limbach by 41.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 216,567 shares of the construction company's stock worth $18,525,000 after purchasing an additional 62,987 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in shares of Limbach during the fourth quarter worth about $5,041,000. Finally, Thames Capital Management LLC bought a new position in Limbach during the fourth quarter valued at approximately $4,481,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Limbach

In other Limbach news, insider Jay Sharp sold 2,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $137.49, for a total value of $274,980.00. Following the transaction, the insider now directly owns 69,877 shares in the company, valued at approximately $9,607,388.73. This represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.70% of the stock is currently owned by insiders.

Limbach Trading Up 1.8%

Shares of LMB stock traded up $2.51 during trading hours on Friday, hitting $139.39. The company had a trading volume of 279,236 shares, compared to its average volume of 182,573. Limbach Holdings, Inc. has a fifty-two week low of $48.17 and a fifty-two week high of $144.00. The company's fifty day moving average is $122.11 and its 200 day moving average is $98.66. The stock has a market capitalization of $1.62 billion, a PE ratio of 49.96, a price-to-earnings-growth ratio of 2.57 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 1.55.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.82. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The business had revenue of $133.11 million for the quarter, compared to analysts' expectations of $121.06 million. During the same period last year, the firm earned $0.69 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts expect that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LMB shares. Roth Capital reaffirmed a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. Stifel Nicolaus boosted their target price on Limbach from $130.00 to $141.00 and gave the stock a "buy" rating in a research note on Monday, June 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.33.

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.