New York State Common Retirement Fund Purchases 20,185 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

New York State Common Retirement Fund lifted its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 635.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,363 shares of the construction company's stock after buying an additional 20,185 shares during the quarter. New York State Common Retirement Fund owned about 0.20% of Limbach worth $1,740,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LMB. Bessemer Group Inc. purchased a new stake in shares of Limbach during the 1st quarter worth approximately $11,705,000. Next Century Growth Investors LLC purchased a new stake in Limbach in the 4th quarter valued at $13,374,000. First Trust Advisors LP raised its position in Limbach by 67.5% in the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock valued at $27,578,000 after purchasing an additional 129,869 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Limbach by 41.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 216,567 shares of the construction company's stock valued at $18,525,000 after purchasing an additional 62,987 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC purchased a new stake in Limbach in the 4th quarter valued at $5,041,000. Hedge funds and other institutional investors own 55.85% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Roth Capital reiterated a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Stifel Nicolaus boosted their price objective on shares of Limbach from $151.00 to $163.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Lake Street Capital boosted their price objective on shares of Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen raised shares of Limbach from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Limbach presently has a consensus rating of "Buy" and a consensus price target of $133.00.

Limbach Price Performance

NASDAQ:LMB traded up $8.85 during mid-day trading on Friday, reaching $133.84. 204,234 shares of the stock were exchanged, compared to its average volume of 217,495. The business has a fifty day moving average price of $136.73 and a 200 day moving average price of $105.94. The firm has a market capitalization of $1.56 billion, a PE ratio of 47.97, a PEG ratio of 2.54 and a beta of 1.19. Limbach Holdings, Inc. has a 1-year low of $48.17 and a 1-year high of $154.05. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.15.

Limbach (NASDAQ:LMB - Get Free Report) last announced 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. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The firm had revenue of $133.11 million during the quarter, compared to analyst estimates of $121.06 million. During the same period last year, the company posted $0.69 EPS. The business's quarterly revenue was up 11.9% compared to the same quarter last year. Research analysts expect that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $137.49, for a total transaction of $274,980.00. Following the completion of the sale, the insider directly owned 69,877 shares in the company, valued at $9,607,388.73. The trade was a 2.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.70% of the stock is currently owned by corporate insiders.

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.