Lord Abbett & CO. LLC Acquires New Position in Limbach Holdings, Inc. $LMB

Key Points

• Lord Abbett & CO. LLC acquired 130,156 shares of Limbach Holdings, Inc. valued at approximately $9.7 million, representing about 1.12% ownership of the company.
• Insider Jay Sharp sold 2,000 shares of Limbach stock for nearly $275,000, reducing his ownership stake by 2.78%.
• Limbach's stock has a market capitalization of $1.32 billion, with a recent P/E ratio of 38.87, and it reported a year-over-year revenue increase of 16.4%.

Lord Abbett & CO. LLC acquired a new stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,156 shares of the construction company's stock, valued at approximately $9,693,000. Lord Abbett & CO. LLC owned about 1.12% of Limbach as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of LMB. LPL Financial LLC increased its position in Limbach by 11.6% in the fourth quarter. LPL Financial LLC now owns 6,197 shares of the construction company's stock worth $530,000 after buying an additional 644 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Limbach by 698.7% during the fourth quarter. JPMorgan Chase & Co. now owns 41,483 shares of the construction company's stock valued at $3,548,000 after buying an additional 36,289 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Limbach by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 5,144 shares of the construction company's stock valued at $440,000 after buying an additional 1,626 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Limbach by 120.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 56,687 shares of the construction company's stock valued at $4,849,000 after buying an additional 31,002 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Limbach during the 4th quarter valued at approximately $2,230,000. Hedge funds and other institutional investors own 55.85% of the company's stock.

Limbach Stock Down 0.2%

NASDAQ:LMB traded down $0.2150 on Thursday, reaching $117.6850. The stock had a trading volume of 35,256 shares, compared to its average volume of 225,626. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.17. Limbach Holdings, Inc. has a 12-month low of $59.59 and a 12-month high of $154.05. The company has a 50-day moving average of $133.44 and a 200 day moving average of $108.99. The stock has a market cap of $1.37 billion, a P/E ratio of 40.18, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22.

Limbach (NASDAQ:LMB - Get Free Report) last issued 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. Limbach had a net margin of 6.38% and a return on equity of 29.38%. The business had revenue of $142.24 million for the quarter, compared to analysts' expectations of $144.21 million. During the same quarter last year, the company posted $0.73 earnings per share. The company's quarterly revenue was up 16.4% compared to the same quarter last year. Limbach has set its FY 2025 guidance at EPS. On average, research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jay Sharp sold 2,000 shares of the firm's 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 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 SEC, which is accessible through this hyperlink. Corporate insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LMB shares. Wall Street Zen downgraded Limbach from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Stifel Nicolaus set a $146.00 price target on Limbach in a report on Wednesday, August 6th. Lake Street Capital lifted their target price on Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Roth Capital reiterated a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $127.33.

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.