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

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

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Limbach by 7.5% during the 1st quarter. Principal Financial Group Inc. now owns 13,873 shares of the construction company's stock worth $1,033,000 after buying an additional 963 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Limbach by 259.3% during the 1st quarter. Teacher Retirement System of Texas now owns 12,408 shares of the construction company's stock worth $924,000 after buying an additional 8,955 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Limbach by 10.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,009 shares of the construction company's stock valued at $2,483,000 after purchasing an additional 3,034 shares during the last quarter. Bessemer Group Inc. acquired a new position in Limbach in the 1st quarter valued at about $11,705,000. Finally, Moran Wealth Management LLC acquired a new position in Limbach in the 1st quarter valued at about $510,000. Institutional investors and hedge funds own 55.85% of the company's stock.

Limbach Trading Up 2.4%

LMB traded up $3.54 during midday trading on Thursday, hitting $149.23. The company's stock had a trading volume of 178,131 shares, compared to its average volume of 183,896. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.73 billion, a P/E ratio of 53.49, a PEG ratio of 2.73 and a beta of 1.19. The firm has a 50-day moving average price of $131.79 and a two-hundred day moving average price of $101.91. Limbach Holdings, Inc. has a 52-week low of $48.17 and a 52-week high of $154.05.

Limbach (NASDAQ:LMB - Get Free Report) last posted 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. The company had revenue of $133.11 million during the quarter, compared to analysts' expectations of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The firm's revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. On average, research analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of the business's stock in a transaction dated 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 sale, the insider owned 69,877 shares in the company, valued at approximately $9,607,388.73. The trade was a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

LMB has been the subject of several analyst reports. Roth Capital reissued a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. Stifel Nicolaus boosted their target price on shares of Limbach from $141.00 to $151.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Lake Street Capital boosted their target price on shares of Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $129.00.

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.