Northern Trust Corp Buys 6,905 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Northern Trust Corp grew its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,730 shares of the construction company's stock after acquiring an additional 6,905 shares during the period. Northern Trust Corp owned 0.81% of Limbach worth $7,847,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in Limbach by 15.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,194 shares of the construction company's stock valued at $393,000 after acquiring an additional 699 shares in the last quarter. RoundAngle Advisors LLC purchased a new stake in Limbach in the 4th quarter valued at about $474,000. Moody Aldrich Partners LLC purchased a new stake in Limbach in the 4th quarter valued at about $4,430,000. Kestra Private Wealth Services LLC increased its stake in Limbach by 36.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 11,563 shares of the construction company's stock valued at $989,000 after buying an additional 3,075 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Limbach by 1.8% in the 4th quarter. Rhumbline Advisers now owns 14,065 shares of the construction company's stock valued at $1,203,000 after buying an additional 255 shares during the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $75.43, for a total value of $1,915,922.00. Following the transaction, the director now owns 164,600 shares in the company, valued at approximately $12,415,778. The trade was a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.70% of the stock is owned by corporate insiders.

Limbach Price Performance

NASDAQ:LMB traded up $2.33 during trading hours on Friday, hitting $127.95. The stock had a trading volume of 114,942 shares, compared to its average volume of 175,870. The company has a 50 day simple moving average of $94.47 and a two-hundred day simple moving average of $92.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. Limbach Holdings, Inc. has a one year low of $48.17 and a one year high of $129.40. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 58.16, a P/E/G ratio of 2.22 and a beta of 1.08.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.30 by $0.82. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The firm had revenue of $133.11 million during the quarter, compared to the consensus estimate of $121.06 million. During the same period last year, the firm earned $0.69 EPS. The business's quarterly revenue was up 11.9% compared to the same quarter last year. Research analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LMB. Lake Street Capital raised their price target on shares of Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Roth Capital restated a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus set a $103.00 price target on shares of Limbach in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Limbach presently has a consensus rating of "Moderate Buy" and an average price target of $102.67.

About Limbach

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.