FAS Wealth Partners Inc. Takes Position in Limbach Holdings, Inc. (NASDAQ:LMB)

FAS Wealth Partners Inc. acquired a new stake in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,897 shares of the construction company's stock, valued at approximately $216,000.

Several other hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in 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 period. Legacy Advisors LLC bought a new position in Limbach during the first quarter worth about $30,000. Comerica Bank grew its holdings in Limbach by 727.4% during the fourth quarter. Comerica Bank now owns 695 shares of the construction company's stock worth $59,000 after purchasing an additional 611 shares during the period. KLP Kapitalforvaltning AS bought a new position in Limbach during the fourth quarter worth about $154,000. Finally, Balyasny Asset Management L.P. bought a new position in Limbach during the fourth quarter worth about $223,000. Institutional investors own 55.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LMB shares. 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 research report on Friday, July 11th. Roth Capital reaffirmed a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. Finally, Lake Street Capital upped their price target 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $133.00.

Insider Activity

In other Limbach news, insider Jay Sharp sold 2,000 shares of the business's stock in a transaction dated Friday, June 13th. The shares were 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. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.70% of the company's stock.

Limbach Stock Down 0.8%

Shares of NASDAQ:LMB opened at $138.73 on Friday. The firm has a fifty day moving average price of $136.42 and a two-hundred day moving average price of $104.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 1.55. Limbach Holdings, Inc. has a one year low of $48.17 and a one year high of $154.05. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 49.72, a PEG ratio of 2.64 and a beta of 1.19.

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

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.

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