American Century Companies Inc. Sells 29,885 Shares of Limbach Holdings, Inc. $LMB

Key Points

• American Century Companies Inc. has reduced its stake in Limbach Holdings, Inc. by 21.1%, selling 29,885 shares and now owning 112,074 shares valued at approximately $8.3 million.
• Several institutional investors have made significant moves, with new positions acquired in the first quarter totaling approximately $26 million among various firms.
• Limbach's stock has an average rating of "Buy" from analysts, with a consensus price target of $127.33, following a 16.4% increase in revenue year-over-year.

American Century Companies Inc. trimmed its position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 21.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,074 shares of the construction company's stock after selling 29,885 shares during the period. American Century Companies Inc. owned about 0.96% of Limbach worth $8,346,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LMB. Versant Capital Management Inc lifted its position in shares of Limbach by 592.6% during the 1st quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock valued at $28,000 after buying an additional 320 shares in the last quarter. Legacy Advisors LLC purchased a new position in shares of Limbach during the 1st quarter valued at about $30,000. Comerica Bank lifted its position in shares of Limbach by 727.4% during the 4th quarter. Comerica Bank now owns 695 shares of the construction company's stock valued at $59,000 after buying an additional 611 shares in the last quarter. FAS Wealth Partners Inc. purchased a new position in shares of Limbach during the 1st quarter valued at about $216,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Limbach during the 4th quarter valued at about $223,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Price Performance

NASDAQ LMB traded down $2.90 during trading hours on Tuesday, reaching $111.66. The company's stock had a trading volume of 18,821 shares, compared to its average volume of 222,706. The firm's 50-day moving average price is $130.28 and its 200-day moving average price is $110.56. 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 Holdings, Inc. has a 1 year low of $59.59 and a 1 year high of $154.05. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 37.91 and a beta of 1.06.

Limbach (NASDAQ:LMB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The construction company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.12. Limbach had a return on equity of 29.38% and a net margin of 6.38%.The company had revenue of $142.24 million for the quarter, compared to analysts' expectations of $144.21 million. During the same period in the previous year, the firm earned $0.73 EPS. The firm's revenue was up 16.4% compared to the same quarter last year. Limbach has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Limbach

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $137.49, for a total value of $274,980.00. Following the sale, the insider owned 69,877 shares of the company's stock, valued at $9,607,388.73. The trade was a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LMB. Roth Capital reaffirmed a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Wall Street Zen cut Limbach from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Lake Street Capital boosted their price target on Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Stifel Nicolaus set a $146.00 price target on Limbach in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $127.33.

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.