Informed Momentum Co LLC Has $396,000 Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

Key Points

• Informed Momentum Co LLC reduced its stake in Limbach Holdings, Inc. by 51.6%, ending the quarter with a holding valued at $396,000.
• Limbach reported a quarterly earnings per share of $0.93, exceeding estimates by $0.12, alongside a 16.4% increase in revenue compared to the same quarter last year.
• Analysts have given Limbach a consensus rating of "Buy" with price targets ranging from $125.00 to $156.00, indicating confidence in the company's performance.

Informed Momentum Co LLC cut its position in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 51.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,323 shares of the construction company's stock after selling 5,678 shares during the quarter. Informed Momentum Co LLC's holdings in Limbach were worth $396,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Versant Capital Management Inc grew 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 worth $28,000 after purchasing an additional 320 shares during the period. Legacy Advisors LLC acquired a new stake in Limbach in the first quarter worth $30,000. Comerica Bank grew its holdings in Limbach by 727.4% in 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. FAS Wealth Partners Inc. acquired a new stake in Limbach in the first quarter worth $216,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Limbach in the fourth quarter worth $223,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Stock Up 1.1%

Limbach stock opened at $110.14 on Thursday. Limbach Holdings, Inc. has a 1-year low of $57.33 and a 1-year high of $154.05. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 37.59, a price-to-earnings-growth ratio of 2.05 and a beta of 1.22. The firm's fifty day moving average price is $135.50 and its two-hundred day moving average price is $108.24. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.17.

Limbach (NASDAQ:LMB - Get Free Report) last released 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. Limbach had a net margin of 6.38% and a return on equity of 29.38%. The firm had revenue of $142.24 million for the quarter, compared to analyst estimates of $144.21 million. During the same period last year, the firm earned $0.73 earnings per share. The business's quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $137.49, for a total transaction of $274,980.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.70% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.

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