Cynosure Group LLC Invests $681,000 in Limbach Holdings, Inc. (NASDAQ:LMB)

Key Points

• Cynosure Group LLC has purchased a new stake in Limbach Holdings, Inc., acquiring 9,149 shares worth approximately $681,000.
• Major institutional investors have significantly increased their holdings in Limbach, with Versant Capital Management Inc growing its stake by 592.6%.
• Limbach reported quarterly earnings of $0.93 EPS, exceeding expectations, with a year-over-year revenue increase of 16.4%.

Cynosure Group LLC purchased a new position in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,149 shares of the construction company's stock, valued at approximately $681,000. Cynosure Group LLC owned 0.08% of Limbach as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted 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 during the last quarter. Legacy Advisors LLC acquired a new stake in shares of Limbach in the first quarter valued at $30,000. Comerica Bank lifted its holdings in Limbach by 727.4% in the 4th quarter. Comerica Bank now owns 695 shares of the construction company's stock valued at $59,000 after acquiring an additional 611 shares during the last quarter. FAS Wealth Partners Inc. bought a new stake in Limbach during the first quarter worth approximately $216,000. Finally, Balyasny Asset Management L.P. bought a new stake in Limbach during the fourth quarter worth approximately $223,000. Institutional investors and hedge funds own 55.85% of the company's stock.

Limbach Trading Down 3.4%

Shares of LMB stock traded down $3.87 during mid-day trading on Monday, hitting $110.52. The company's stock had a trading volume of 286,890 shares, compared to its average volume of 268,922. Limbach Holdings, Inc. has a 52 week low of $56.87 and a 52 week high of $154.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.69 and a current ratio of 1.69. The company's fifty day simple moving average is $136.47 and its 200-day simple moving average is $108.23. The company has a market cap of $1.29 billion, a PE ratio of 37.72, a P/E/G ratio of 2.15 and a beta of 1.22.

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

Analyst Ratings Changes

A number of brokerages have issued reports on LMB. Stifel Nicolaus set a $146.00 target price on shares of Limbach in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of Limbach from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Lake Street Capital lifted their target price on shares of Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Roth Capital restated a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $127.33.

Insider Buying and Selling

In other Limbach news, insider Jay Sharp sold 2,000 shares of the stock in a transaction that occurred on 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 directly owned 69,877 shares of the company's stock, valued at $9,607,388.73. This trade represents a 2.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.20% of the stock is owned by insiders.

Limbach 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.