Bosun Asset Management LLC Sells 7,954 Shares of Limbach Holdings, Inc. $LMB

Key Points

• Bosun Asset Management LLC has reduced its stake in Limbach Holdings, Inc. by 28.4%, owning approximately $1.49 million worth of shares after selling 7,954 during the first quarter.
• Other institutional investors have also altered their positions, with some, like GAMMA Investing LLC, increasing stakes significantly by 16,413.0%.
• Limbach's most recent earnings report showed a profit of $0.93 per share, exceeding analyst estimates of $0.81 by $0.12, though revenue fell short of expectations.

Bosun Asset Management LLC decreased its stake in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 28.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,046 shares of the construction company's stock after selling 7,954 shares during the quarter. Bosun Asset Management LLC owned 0.17% of Limbach worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of Limbach by 592.6% during the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock worth $28,000 after purchasing an additional 320 shares in the last quarter. Legacy Advisors LLC bought a new position in Limbach during the 1st quarter worth about $30,000. AlphaQuest LLC bought a new position in Limbach during the 1st quarter worth about $53,000. Comerica Bank increased its holdings in Limbach by 727.4% during the 4th quarter. Comerica Bank now owns 695 shares of the construction company's stock worth $59,000 after purchasing an additional 611 shares in the last quarter. Finally, FAS Wealth Partners Inc. bought a new position in Limbach during the 1st quarter worth about $216,000. 55.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LMB has been the subject of a number of research reports. Stifel Nicolaus set a $146.00 target price on Limbach in a report on Wednesday, August 6th. Lake Street Capital lifted their price objective on shares of Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of Limbach from a "buy" rating to a "strong-buy" rating in a report on Friday. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $127.33.

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $137.49, for a total transaction of $274,980.00. Following the completion of the sale, the insider owned 69,877 shares in the company, valued at approximately $9,607,388.73. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 10.20% of the company's stock.

Limbach Stock Performance

NASDAQ:LMB traded down $2.81 on Monday, hitting $105.04. The company's stock had a trading volume of 288,645 shares, compared to its average volume of 223,739. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average of $128.00 and a two-hundred day moving average of $111.22. The firm has a market capitalization of $1.22 billion, a P/E ratio of 35.85 and a beta of 1.06. Limbach Holdings, Inc. has a one year low of $61.71 and a one year high of $154.05.

Limbach (NASDAQ:LMB - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.12. The firm had revenue of $142.24 million for the quarter, compared to analyst estimates of $144.21 million. Limbach had a return on equity of 29.38% and a net margin of 6.38%.The business's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share. Limbach has set its FY 2025 guidance at EPS. Research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share 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.