Limbach Holdings, Inc. (NASDAQ:LMB) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its holdings in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,923 shares of the construction company's stock after selling 4,596 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.21% of Limbach worth $1,782,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of LMB. Next Century Growth Investors LLC purchased a new position in shares of Limbach in the 4th quarter valued at $13,374,000. First Trust Advisors LP raised its stake in shares of Limbach by 67.5% in the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock valued at $27,578,000 after acquiring an additional 129,869 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Limbach by 41.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 216,567 shares of the construction company's stock valued at $18,525,000 after acquiring an additional 62,987 shares during the period. Silvercrest Asset Management Group LLC purchased a new position in shares of Limbach in the 4th quarter valued at $5,041,000. Finally, Thames Capital Management LLC purchased a new position in shares of Limbach in the 4th quarter valued at $4,481,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LMB has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of Limbach from $130.00 to $141.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. Roth Capital reissued a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.33.

Limbach Price Performance

LMB opened at $136.88 on Friday. The company has a fifty day simple moving average of $122.11 and a 200 day simple moving average of $98.66. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 2.57 and a beta of 1.21. Limbach Holdings, Inc. has a twelve month low of $48.17 and a twelve month high of $144.00. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.15.

Limbach (NASDAQ:LMB - Get Free Report) last released 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 business had revenue of $133.11 million during the quarter, compared to analyst estimates of $121.06 million. Limbach had a net margin of 6.29% and a return on equity of 27.66%. The business's revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. Equities research analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the firm's 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 now directly owns 69,877 shares of the company's stock, valued at approximately $9,607,388.73. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.70% of the company's stock.

Limbach Company 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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