Driehaus Capital Management LLC Buys New Stake in Limbach Holdings, Inc. $LMB

Key Points

• Driehaus Capital Management LLC has acquired a $4.97 million stake in Limbach Holdings, Inc., purchasing 66,674 shares during the first quarter.
• Insider Jay Sharp sold 2,000 shares of Limbach stock for nearly $275,000, reducing his stake by 2.78% to a total of approximately $9.6 million.
• Analysts have varying ratings on Limbach, with a consensus rating of "Buy" and a target price averaging $127.33 per share, while the company reported a quarterly earnings per share of $0.93, exceeding expectations.

Driehaus Capital Management LLC purchased a new stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 66,674 shares of the construction company's stock, valued at approximately $4,965,000. Driehaus Capital Management LLC owned about 0.57% of Limbach at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LMB. Versant Capital Management Inc boosted its position in shares of Limbach by 592.6% during the 1st 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 period. Legacy Advisors LLC purchased a new stake in Limbach in the first quarter valued at approximately $30,000. AlphaQuest LLC acquired a new position in Limbach during the first quarter worth $53,000. Comerica Bank boosted its position in shares of Limbach by 727.4% during the fourth quarter. Comerica Bank now owns 695 shares of the construction company's stock worth $59,000 after buying an additional 611 shares during the period. Finally, FAS Wealth Partners Inc. purchased a new position in shares of Limbach during the first quarter worth $216,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Stock Up 0.5%

NASDAQ LMB traded up $0.55 on Thursday, hitting $109.11. 153,136 shares of the stock were exchanged, compared to its average volume of 222,933. Limbach Holdings, Inc. has a fifty-two week low of $60.27 and a fifty-two week high of $154.05. The company has a 50-day moving average price of $129.12 and a 200-day moving average price of $110.55. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.27 billion, a PE ratio of 37.22 and a beta of 1.06.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.12. The business had revenue of $142.24 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the business earned $0.73 EPS. Limbach has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Lake Street Capital raised their target price on Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Stifel Nicolaus set a $146.00 price target on shares of Limbach in a research report on Wednesday, August 6th. Roth Capital restated a "buy" rating on shares of Limbach in a report on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of Limbach from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $127.33.

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of the 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 transaction, the insider owned 69,877 shares in the company, valued at approximately $9,607,388.73. This represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.20% of the company's stock.

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.