Invesco Ltd. Has $1.39 Million Stock Position in Limbach Holdings, Inc. $LMB

Invesco Ltd. cut its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 92.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,706 shares of the construction company's stock after selling 232,313 shares during the quarter. Invesco Ltd. owned 0.16% of Limbach worth $1,393,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LMB. Wells Fargo & Company MN boosted its stake in shares of Limbach by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 5,144 shares of the construction company's stock worth $440,000 after acquiring an additional 1,626 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Limbach by 10.2% during the 4th quarter. MetLife Investment Management LLC now owns 6,240 shares of the construction company's stock worth $534,000 after acquiring an additional 578 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of Limbach during the 4th quarter worth $441,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Limbach by 10.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,611 shares of the construction company's stock worth $652,000 after acquiring an additional 744 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Limbach during the 4th quarter worth $344,000. 55.85% of the stock is owned by institutional investors.

Insider Activity

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction on Friday, June 13th. The shares were sold at an average price of $137.49, for a total transaction of $274,980.00. Following the completion of the sale, the insider owned 69,877 shares of the company's stock, valued at $9,607,388.73. This trade represents a 2.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 9.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Lake Street Capital raised their price objective on Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Stifel Nicolaus set a $146.00 target price on shares of Limbach in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Limbach from a "buy" rating to a "strong-buy" rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $127.33.

Limbach Stock Down 4.0%

Shares of NASDAQ:LMB traded down $4.45 during trading on Friday, reaching $107.85. 202,524 shares of the company traded hands, compared to its average volume of 201,142. The firm has a fifty day simple moving average of $128.00 and a 200 day simple moving average of $111.02. The firm has a market cap of $1.25 billion, a P/E ratio of 36.81 and a beta of 1.06. Limbach Holdings, Inc. has a 1-year low of $60.27 and a 1-year high of $154.05. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.17.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Tuesday, August 5th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.12. The company had revenue of $142.24 million during 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 for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.73 EPS. Limbach has set its FY 2025 guidance at EPS. Analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share 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.