Calamos Advisors LLC Decreases Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Calamos Advisors LLC reduced its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 18.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,461 shares of the construction company's stock after selling 4,548 shares during the period. Calamos Advisors LLC owned approximately 0.17% of Limbach worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Limbach by 16,413.0% in the first quarter. GAMMA Investing LLC now owns 3,798 shares of the construction company's stock valued at $283,000 after purchasing an additional 3,775 shares during the period. ProShare Advisors LLC purchased a new stake in Limbach in the fourth quarter valued at approximately $246,000. US Bancorp DE acquired a new position in Limbach in the 4th quarter worth approximately $115,000. Man Group plc purchased a new position in Limbach during the 4th quarter worth approximately $356,000. Finally, Harbor Capital Advisors Inc. lifted its stake in Limbach by 43.2% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,656 shares of the construction company's stock valued at $272,000 after acquiring an additional 1,103 shares during the period. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LMB. Lake Street Capital raised their target price on shares of Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Roth Capital reiterated a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus upped their target price on Limbach from $141.00 to $151.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $129.00.

Limbach Price Performance

Shares of LMB stock traded down $0.94 on Monday, reaching $148.26. 171,244 shares of the company were exchanged, compared to its average volume of 183,432. Limbach Holdings, Inc. has a 1 year low of $48.17 and a 1 year high of $154.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.55 and a current ratio of 1.55. The business has a 50-day moving average price of $128.65 and a 200 day moving average price of $100.90. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 53.14, a P/E/G ratio of 2.84 and a beta of 1.19.

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

Insider Transactions at Limbach

In other news, insider Jay Sharp sold 2,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $137.49, for a total transaction of $274,980.00. Following the completion of the transaction, the insider directly owned 69,877 shares in the company, valued at $9,607,388.73. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.20% of the stock is currently 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.