Millennium Management LLC Has $2.17 Million Stock Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

Millennium Management LLC boosted its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 639.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,369 shares of the construction company's stock after purchasing an additional 21,936 shares during the quarter. Millennium Management LLC owned approximately 0.23% of Limbach worth $2,170,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new position in Limbach during the 4th quarter valued at about $115,000. Charles Schwab Investment Management Inc. lifted its holdings in Limbach by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 85,086 shares of the construction company's stock valued at $7,278,000 after acquiring an additional 1,141 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Limbach in the 4th quarter worth approximately $223,000. Stifel Financial Corp acquired a new stake in Limbach during the fourth quarter valued at approximately $441,000. Finally, Comerica Bank lifted its stake in Limbach by 727.4% during the fourth quarter. Comerica Bank now owns 695 shares of the construction company's stock valued at $59,000 after purchasing an additional 611 shares during the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Joshua Horowitz sold 25,400 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $75.43, for a total value of $1,915,922.00. Following the transaction, the director now directly owns 164,600 shares of the company's stock, valued at approximately $12,415,778. This trade represents a 13.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 9.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LMB. Stifel Nicolaus raised their price objective on Limbach from $130.00 to $141.00 and gave the stock a "buy" rating in a research note on Monday. Roth Capital reissued a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. Finally, Lake Street Capital lifted their target price on Limbach from $100.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $115.33.

Limbach Stock Up 1.4%

LMB traded up $1.81 during trading on Tuesday, reaching $134.97. 209,275 shares of the stock traded hands, compared to its average volume of 177,803. Limbach Holdings, Inc. has a fifty-two week low of $48.17 and a fifty-two week high of $136.92. The stock's 50-day simple moving average is $100.13 and its two-hundred day simple moving average is $93.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 61.35, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08.

Limbach (NASDAQ:LMB - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.82. The firm had revenue of $133.11 million for the quarter, compared to the consensus estimate of $121.06 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm's revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. As a group, equities research analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

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.