CenterBook Partners LP Makes New Investment in Limbach Holdings, Inc. (NASDAQ:LMB)

CenterBook Partners LP bought a new position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 69,561 shares of the construction company's stock, valued at approximately $5,180,000. CenterBook Partners LP owned about 0.60% of Limbach as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in Limbach by 592.6% in the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock valued at $28,000 after acquiring an additional 320 shares in the last quarter. Legacy Advisors LLC bought a new stake in Limbach in the first quarter valued at $30,000. Comerica Bank boosted its holdings in Limbach by 727.4% in the fourth quarter. Comerica Bank now owns 695 shares of the construction company's stock valued at $59,000 after acquiring an additional 611 shares in the last quarter. US Bancorp DE bought a new stake in Limbach in the fourth quarter valued at $115,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Limbach in the fourth quarter valued at $154,000. Institutional investors own 55.85% of the company's stock.

Insiders Place Their Bets

In other Limbach 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 value of $274,980.00. Following the completion of the transaction, the insider owned 69,877 shares of the company's stock, valued at approximately $9,607,388.73. The trade was a 2.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.70% of the company's stock.

Limbach Stock Down 0.8%

Shares of LMB traded down $1.08 during trading hours on Friday, hitting $138.73. The company had a trading volume of 317,309 shares, compared to its average volume of 183,377. The firm has a fifty day moving average price of $136.09 and a 200-day moving average price of $104.33. 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 stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 49.72, a P/E/G ratio of 2.73 and a beta of 1.19. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.82. The firm had revenue of $133.11 million during the quarter, compared to analyst estimates of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. Limbach's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. On average, equities research analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LMB. Stifel Nicolaus lifted their price target on shares of Limbach from $151.00 to $163.00 and gave the company a "buy" rating in a report on Friday, July 11th. Roth Capital reissued a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Finally, Lake Street Capital raised their price objective on Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Limbach presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.00.

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.