Neumeier Poma Investment Counsel LLC Decreases Stock Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

Key Points

• Neumeier Poma Investment Counsel LLC has reduced its stake in Limbach Holdings, Inc. by 29.1%, now holding 327,326 shares valued at approximately $24.4 million.
• Several institutional investors, including Versant Capital Management and Comerica Bank, have significantly increased their positions in Limbach during the last quarter.
• Limbach recently reported earnings of $0.93 per share, exceeding expectations, with a year-over-year revenue increase of 16.4%.

Neumeier Poma Investment Counsel LLC lessened its stake in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 29.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 327,326 shares of the construction company's stock after selling 134,499 shares during the period. Limbach comprises about 2.6% of Neumeier Poma Investment Counsel LLC's holdings, making the stock its 15th largest holding. Neumeier Poma Investment Counsel LLC owned approximately 2.82% of Limbach worth $24,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc boosted its position in shares of Limbach by 592.6% during the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock valued at $28,000 after buying an additional 320 shares during the period. Legacy Advisors LLC acquired a new stake in Limbach during the 1st quarter worth about $30,000. Comerica Bank boosted its stake in shares of Limbach by 727.4% during the 4th quarter. Comerica Bank now owns 695 shares of the construction company's stock worth $59,000 after acquiring an additional 611 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Limbach during the 4th quarter worth about $154,000. Finally, FAS Wealth Partners Inc. purchased a new position in Limbach in the 1st quarter valued at about $216,000. Institutional investors own 55.85% of the company's stock.

Insider Buying and Selling

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction 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 transaction, the insider directly owned 69,877 shares in the company, valued at approximately $9,607,388.73. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.20% of the company's stock.

Limbach Stock Performance

NASDAQ LMB traded down $2.85 during trading on Monday, reaching $111.54. The company's stock had a trading volume of 126,075 shares, compared to its average volume of 224,442. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 38.10, a P/E/G ratio of 2.15 and a beta of 1.22. Limbach Holdings, Inc. has a twelve month low of $56.87 and a twelve month high of $154.05. The business's fifty day moving average price is $136.92 and its 200-day moving average price is $108.17.

Limbach (NASDAQ:LMB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.12. The company had revenue of $142.24 million for the quarter, compared to analyst estimates of $144.21 million. Limbach had a net margin of 6.38% and a return on equity of 29.38%. Limbach's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 earnings per share. As a group, analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on LMB shares. Wall Street Zen upgraded shares of Limbach from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Lake Street Capital lifted their price objective on shares of Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Roth Capital reissued a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $146.00 price target on shares of Limbach in a research report on Wednesday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $127.33.

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.