Grandeur Peak Global Advisors LLC Invests $3.62 Million in Limbach Holdings, Inc. $LMB

Key Points

• Grandeur Peak Global Advisors acquired 47,007 Limbach shares worth approximately $3.62 million, representing 0.39% of the company and 0.9% of the fund’s portfolio. Institutional investors collectively own 55.85% of Limbach.
• Analyst sentiment is cautious: Limbach has a consensus rating of “Reduce” and an average price target of $62, with recent ratings ranging from Buy to Strong Sell.
• Limbach shares opened at $41.34, near their 52-week low of $41.17, after the company reported quarterly EPS of $0.64 versus the $0.93 consensus estimate and revenue of $173.46 million versus expectations of $177.33 million.

Grandeur Peak Global Advisors LLC acquired a new stake in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,007 shares of the construction company's stock, valued at approximately $3,620,000. Limbach comprises 0.9% of Grandeur Peak Global Advisors LLC's holdings, making the stock its 23rd largest position. Grandeur Peak Global Advisors LLC owned about 0.39% of Limbach as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wasatch Advisors LP grew its stake in Limbach by 37.8% in the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company's stock worth $77,647,000 after acquiring an additional 273,818 shares during the period. BlackRock Inc. purchased a new position in shares of Limbach during the 2nd quarter worth $75,410,000. Thrivent Financial for Lutherans lifted its stake in shares of Limbach by 7.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company's stock worth $61,550,000 after purchasing an additional 55,511 shares during the period. First Trust Advisors LP boosted its holdings in shares of Limbach by 36.0% during the fourth quarter. First Trust Advisors LP now owns 442,173 shares of the construction company's stock worth $34,423,000 after purchasing an additional 117,035 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Limbach by 2,041.6% during the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company's stock worth $56,124,000 after purchasing an additional 381,897 shares during the last quarter. Hedge funds and other institutional investors own 55.85% of the company's stock.

Insider Activity

In other news, EVP Jay Sharp sold 4,871 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.82, for a total transaction of $388,803.22. Following the completion of the sale, the executive vice president owned 73,456 shares in the company, valued at approximately $5,863,257.92. The trade was a 6.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LMB shares. Royal Bank Of Canada set a $50.00 price objective on Limbach in a research report on Friday, August 21st. Weiss Ratings reissued a "hold (c)" rating on shares of Limbach in a research note on Wednesday, August 5th. Stifel Nicolaus decreased their price target on Limbach from $107.00 to $86.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Wall Street Zen cut Limbach from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Zacks Research downgraded shares of Limbach from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $62.00.

Limbach Price Performance

Shares of LMB opened at $41.34 on Monday. Limbach Holdings, Inc. has a fifty-two week low of $41.17 and a fifty-two week high of $123.00. The company's fifty day moving average is $64.64 and its two-hundred day moving average is $76.87. The firm has a market cap of $493.19 million, a PE ratio of 16.54 and a beta of 1.45. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The firm had revenue of $173.46 million during the quarter, compared to analysts' expectations of $177.33 million. Analysts forecast that Limbach Holdings, Inc. will post 4.17 earnings per share for the current year.

Limbach Company Profile

Limbach Holdings, Inc NASDAQ: LMB is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company's service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.

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