Millennium Management LLC Grows Stock Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Millennium Management LLC grew its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 639.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,369 shares of the construction company's stock after buying an additional 21,936 shares during the quarter. Millennium Management LLC owned 0.23% of Limbach worth $2,170,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Teacher Retirement System of Texas grew its stake in Limbach by 5.2% in the fourth quarter. Teacher Retirement System of Texas now owns 3,453 shares of the construction company's stock worth $295,000 after purchasing an additional 172 shares in the last quarter. Swiss National Bank grew its stake in Limbach by 1.0% in the fourth quarter. Swiss National Bank now owns 19,900 shares of the construction company's stock worth $1,702,000 after purchasing an additional 200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Limbach by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,818 shares of the construction company's stock worth $498,000 after purchasing an additional 231 shares in the last quarter. Rhumbline Advisers grew its stake in Limbach by 1.8% in the fourth quarter. Rhumbline Advisers now owns 14,065 shares of the construction company's stock worth $1,203,000 after purchasing an additional 255 shares in the last quarter. Finally, IFP Advisors Inc bought a new position in Limbach in the fourth quarter worth approximately $37,000. Institutional investors own 55.85% of the company's stock.

Analysts Set New Price Targets

LMB has been the topic of several recent research reports. Roth Capital reaffirmed a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Stifel Nicolaus increased their target price on Limbach from $130.00 to $141.00 and gave the company a "buy" rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.33.

Insider Activity

In related news, Director Joshua Horowitz sold 25,400 shares of the firm's stock in a transaction 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 completion of the transaction, the director now owns 164,600 shares in the company, valued at $12,415,778. This trade represents a 13.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 9.70% of the company's stock.

Limbach Stock Up 1.3%

Shares of LMB traded up $1.71 during midday trading on Thursday, hitting $134.12. 139,681 shares of the company's stock traded hands, compared to its average volume of 178,102. Limbach Holdings, Inc. has a 1 year low of $48.17 and a 1 year high of $137.05. The firm's fifty day moving average is $103.57 and its 200-day moving average is $94.66. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 60.96, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08.

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

Limbach 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.