Informed Momentum Co LLC Decreases Stock Position in Limbach Holdings, Inc. $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 lessened its stake in 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 SEC. The fund 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 hedge funds and other institutional investors have also recently made changes to their positions in LMB. Vanguard Group Inc. grew its position in Limbach by 4.9% in the first quarter. Vanguard Group Inc. now owns 634,082 shares of the construction company's stock worth $47,220,000 after acquiring an additional 29,685 shares during the period. Wasatch Advisors LP grew its position in Limbach by 0.4% in the fourth quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company's stock worth $32,025,000 after acquiring an additional 1,546 shares during the period. First Trust Advisors LP grew its position in Limbach by 67.5% in the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock worth $27,578,000 after acquiring an additional 129,869 shares during the period. Royce & Associates LP grew its position in Limbach by 25.7% in the first quarter. Royce & Associates LP now owns 254,500 shares of the construction company's stock worth $18,953,000 after acquiring an additional 52,030 shares during the period. Finally, Bessemer Group Inc. purchased a new position in Limbach in the first quarter worth approximately $11,705,000. Institutional investors and hedge funds own 55.85% of the company's stock.

Analysts Set New Price Targets

LMB has been the subject of several analyst reports. Roth Capital reiterated a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Wall Street Zen lowered Limbach from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Stifel Nicolaus set a $146.00 price objective on Limbach in a research report on Wednesday, August 6th. Finally, Lake Street Capital increased their price objective on Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Limbach currently has an average rating of "Buy" and an average price target of $127.33.

Insider Buying and Selling at Limbach

In related news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $137.49, for a total value of $274,980.00. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.20% of the company's stock.

Limbach Trading Up 1.8%

Shares of LMB traded up $2.09 during midday trading on Monday, hitting $115.99. 57,719 shares of the stock were exchanged, compared to its average volume of 226,582. Limbach Holdings, Inc. has a 52-week low of $58.91 and a 52-week high of $154.05. The stock has a fifty day simple moving average of $134.69 and a 200 day simple moving average of $108.72. The firm has a market cap of $1.35 billion, a P/E ratio of 39.53, a P/E/G ratio of 2.14 and a beta of 1.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.69 and a current ratio of 1.69.

Limbach (NASDAQ:LMB - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The construction company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.81 by $0.12. The business had revenue of $142.24 million during the quarter, compared to analyst estimates of $144.21 million. Limbach had a return on equity of 29.38% and a net margin of 6.38%. The company's quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the business posted $0.73 earnings per share. On average, research 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.