Northern Trust Corp Boosts Position in Limbach Holdings, Inc. $LMB

Key Points

• Northern Trust Corp increased its position in Limbach Holdings, Inc. by 81.7%, owning approximately 166,716 shares worth about $12.42 million.
• Institutional ownership of Limbach Holdings stands at 55.85%, with notable increases from several firms in the past quarter.
• Limbach reported earnings per share of $0.93 for the last quarter, exceeding analyst expectations, and is projected to have a fiscal year EPS of $2.54.

Northern Trust Corp grew its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 81.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166,716 shares of the construction company's stock after buying an additional 74,986 shares during the quarter. Northern Trust Corp owned 1.43% of Limbach worth $12,415,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Limbach by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,818 shares of the construction company's stock valued at $498,000 after acquiring an additional 231 shares in the last quarter. Brendel Financial Advisors LLC raised its position in shares of Limbach by 8.9% during the 1st quarter. Brendel Financial Advisors LLC now owns 3,120 shares of the construction company's stock valued at $232,000 after buying an additional 256 shares in the last quarter. Versant Capital Management Inc grew its stake 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 last quarter. Legacy Advisors LLC purchased a new position in shares of Limbach during the first quarter worth approximately $30,000. Finally, Rhumbline Advisers boosted its stake in shares of Limbach by 3.1% during the first quarter. Rhumbline Advisers now owns 14,498 shares of the construction company's stock valued at $1,080,000 after purchasing an additional 433 shares in the last quarter. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Limbach news, insider Jay Sharp sold 2,000 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 69,877 shares in the company, valued at $9,607,388.73. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Lake Street Capital lifted 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. Wall Street Zen upgraded shares of Limbach from a "buy" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, Stifel Nicolaus set a $146.00 target price on shares of Limbach in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $127.33.

Limbach Stock Up 0.1%

Shares of LMB stock traded up $0.06 on Wednesday, hitting $103.20. The company's stock had a trading volume of 259,433 shares, compared to its average volume of 188,007. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 35.22 and a beta of 1.06. Limbach Holdings, Inc. has a fifty-two week low of $63.02 and a fifty-two week high of $154.05. The firm's fifty day moving average price is $125.79 and its 200-day moving average price is $111.28. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.69 and a quick ratio of 1.69.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The construction company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.12. The firm had revenue of $142.24 million for the quarter, compared to analysts' expectations of $144.21 million. Limbach had a net margin of 6.38% and a return on equity of 29.38%. The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. Limbach has set its FY 2025 guidance at EPS. Research analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS 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.