Navellier & Associates Inc. Lowers Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

Key Points

• Navellier & Associates Inc. has reduced its stake in Limbach Holdings, Inc. by 49.4%, now holding 9,492 shares valued at $707,000.
• Insider Jay Sharp sold 2,000 shares of Limbach stock, representing a 2.78% decrease in his holdings, while still owning approximately $9.6 million worth of shares.
• Limbach reported strong earnings, with $1.12 earnings per share exceeding expectations, contributing to an 11.9% year-over-year revenue growth to $133.11 million.

Navellier & Associates Inc. decreased its position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 49.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,492 shares of the construction company's stock after selling 9,268 shares during the quarter. Navellier & Associates Inc. owned approximately 0.08% of Limbach worth $707,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc grew its stake in shares of Limbach by 592.6% in the 1st quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock worth $28,000 after acquiring an additional 320 shares in the last quarter. Legacy Advisors LLC purchased a new position in shares of Limbach in the 1st quarter worth about $30,000. Comerica Bank boosted its holdings in shares of Limbach by 727.4% in the 4th quarter. Comerica Bank now owns 695 shares of the construction company's stock worth $59,000 after buying an additional 611 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Limbach in the 4th quarter worth about $154,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Limbach in the 4th quarter worth about $223,000. Institutional investors own 55.85% of the company's stock.

Limbach Price Performance

NASDAQ LMB traded up $3.85 on Wednesday, reaching $139.57. 28,096 shares of the company's stock traded hands, compared to its average volume of 219,427. Limbach Holdings, Inc. has a 12 month low of $48.17 and a 12 month high of $154.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a 50-day simple moving average of $137.05 and a 200 day simple moving average of $106.48. The stock has a market cap of $1.62 billion, a PE ratio of 50.06, a P/E/G ratio of 2.58 and a beta of 1.19.

Limbach (NASDAQ:LMB - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on LMB shares. Roth Capital reaffirmed a "buy" rating on shares of Limbach in a report on Wednesday, May 7th. Stifel Nicolaus upped their price objective on shares of Limbach from $151.00 to $163.00 and gave the company a "buy" rating in a report on Friday, July 11th. Lake Street Capital upped their price objective on shares of Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen raised shares of Limbach from a "buy" rating to a "strong-buy" rating in a 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $133.00.

Insider Buying and Selling 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 stock was sold at an average price of $137.49, for a total value of $274,980.00. Following the completion of the sale, the insider owned 69,877 shares of the company's stock, valued at $9,607,388.73. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 10.20% 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.