BNP Paribas Financial Markets Cuts Stock Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

BNP Paribas Financial Markets cut its holdings in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 72.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,467 shares of the construction company's stock after selling 3,809 shares during the quarter. BNP Paribas Financial Markets' holdings in Limbach were worth $125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LMB. Vanguard Group Inc. grew its stake in shares of Limbach by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 604,397 shares of the construction company's stock worth $51,700,000 after acquiring an additional 3,001 shares during the last quarter. Wasatch Advisors LP grew its position in Limbach by 0.4% during the 4th quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company's stock worth $32,025,000 after purchasing an additional 1,546 shares during the last quarter. First Trust Advisors LP increased its stake in Limbach by 67.5% during the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock valued at $27,578,000 after purchasing an additional 129,869 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake 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 in the last quarter. Finally, Next Century Growth Investors LLC purchased a new position in shares of Limbach in the fourth quarter worth $13,374,000. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Limbach Stock Performance

NASDAQ:LMB traded down $2.56 during midday trading on Wednesday, hitting $132.41. The company's stock had a trading volume of 104,289 shares, compared to its average volume of 177,860. Limbach Holdings, Inc. has a fifty-two week low of $48.17 and a fifty-two week high of $137.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $1.54 billion, a P/E ratio of 60.19, a P/E/G ratio of 2.22 and a beta of 1.08. The firm's 50 day moving average is $102.38 and its 200-day moving average is $94.38.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LMB shares. Roth Capital reiterated a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. Lake Street Capital raised their target price on Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus boosted their price target on Limbach from $130.00 to $141.00 and gave the company a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $115.33.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $75.43, for a total value of $1,915,922.00. Following the completion of the transaction, the director now directly owns 164,600 shares of the company's stock, valued at approximately $12,415,778. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.70% of the stock is owned by insiders.

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.