Neumeier Poma Investment Counsel LLC Has $24.78 Million Position in Limbach Holdings, Inc. $LMB

Key Points

• Neumeier Poma Investment Counsel increased its Limbach Holdings stake by 151.5% in the fourth quarter, ending with 318,238 shares worth about $24.8 million.
• Insider selling continued during the quarter, including sales by CFO Jayme L. Brooks and EVP Jay Sharp; overall insiders sold 27,433 shares worth $2.35 million last quarter.
• Limbach reported better-than-expected Q1 results, with EPS of $0.64 versus the $0.21 estimate and revenue of $138.86 million, while analysts currently rate the stock Hold on average.

Neumeier Poma Investment Counsel LLC boosted its holdings in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 151.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 318,238 shares of the construction company's stock after purchasing an additional 191,685 shares during the quarter. Limbach comprises approximately 2.0% of Neumeier Poma Investment Counsel LLC's investment portfolio, making the stock its 24th largest holding. Neumeier Poma Investment Counsel LLC owned about 2.74% of Limbach worth $24,775,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LMB. Comerica Bank grew its position in Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company's stock valued at $64,000 after purchasing an additional 167 shares during the period. AQR Capital Management LLC grew its position in Limbach by 5.5% in the 1st quarter. AQR Capital Management LLC now owns 16,903 shares of the construction company's stock valued at $1,259,000 after purchasing an additional 876 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Limbach by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company's stock valued at $451,000 after purchasing an additional 241 shares during the period. Goldman Sachs Group Inc. grew its position in Limbach by 2.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 289,819 shares of the construction company's stock valued at $21,583,000 after purchasing an additional 7,771 shares during the period. Finally, Cetera Investment Advisers bought a new position in Limbach during the 2nd quarter valued at $421,000. Institutional investors and hedge funds own 55.85% of the company's stock.

Insiders Place Their Bets

In related news, CFO Jayme L. Brooks sold 3,440 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $100.00, for a total value of $344,000.00. Following the sale, the chief financial officer directly owned 125,227 shares in the company, valued at approximately $12,522,700. The trade was a 2.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jay Sharp sold 2,000 shares of the business's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $79.99, for a total value of $159,980.00. Following the completion of the sale, the executive vice president owned 79,027 shares in the company, valued at $6,321,369.73. This represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,433 shares of company stock worth $2,345,453 over the last quarter. Company insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on LMB. JPMorgan Chase & Co. dropped their price objective on Limbach from $100.00 to $90.00 and set a "neutral" rating on the stock in a research note on Thursday, March 26th. Weiss Ratings cut Limbach from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 8th. Finally, Wall Street Zen cut Limbach from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $116.67.

Limbach Trading Up 3.5%

NASDAQ LMB opened at $84.33 on Friday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 30.67 and a beta of 1.42. Limbach Holdings, Inc. has a one year low of $65.08 and a one year high of $154.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71. The business's fifty day moving average is $82.85 and its 200-day moving average is $81.57.

Limbach (NASDAQ:LMB - Get Free Report) last released its earnings results on Tuesday, May 5th. The construction company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.43. The company had revenue of $138.86 million for the quarter, compared to analysts' expectations of $134.23 million. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The business's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 EPS. Equities research analysts predict that Limbach Holdings, Inc. will post 4.98 EPS for the current year.

About Limbach

Limbach Holdings, Inc NASDAQ: LMB is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company's service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.

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