Limbach Holdings, Inc. (NASDAQ:LMB) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 35.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,541 shares of the construction company's stock after buying an additional 19,854 shares during the period. Envestnet Asset Management Inc. owned approximately 0.66% of Limbach worth $5,700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in Limbach by 592.6% in 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 during the period. Legacy Advisors LLC purchased a new stake in shares of Limbach during the 1st quarter worth $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 worth $59,000 after purchasing an additional 611 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Limbach during the 4th quarter worth $154,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Limbach during the 4th quarter worth $223,000. Hedge funds and other institutional investors own 55.85% of the company's stock.

Limbach Stock Performance

LMB traded up $8.85 on Friday, reaching $133.84. The company had a trading volume of 204,234 shares, compared to its average volume of 217,495. Limbach Holdings, Inc. has a 1 year low of $48.17 and a 1 year high of $154.05. The stock has a market capitalization of $1.56 billion, a PE ratio of 47.97, a P/E/G ratio of 2.54 and a beta of 1.19. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $136.73 and a 200-day moving average price of $105.94.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.82. The firm had revenue of $133.11 million during the quarter, compared to analysts' expectations of $121.06 million. Limbach had a net margin of 6.29% and a return on equity of 27.66%. Limbach's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. As a group, research analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LMB. Stifel Nicolaus lifted their price objective on shares of Limbach from $151.00 to $163.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Roth Capital reaffirmed a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Lake Street Capital boosted their price target on shares of Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen raised shares of Limbach from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $133.00.

Insider Buying and Selling

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 value of $274,980.00. Following the transaction, the insider directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.70% of the company's stock.

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.