ProShare Advisors LLC Takes Position in Limbach Holdings, Inc. (NASDAQ:LMB)

ProShare Advisors LLC bought a new position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,877 shares of the construction company's stock, valued at approximately $246,000.

Several other hedge funds also recently made changes to their positions in LMB. Next Century Growth Investors LLC purchased a new position in shares of Limbach in the fourth quarter worth $13,374,000. First Trust Advisors LP raised its holdings in Limbach by 67.5% in the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock worth $27,578,000 after purchasing an additional 129,869 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings 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 worth $18,525,000 after purchasing an additional 62,987 shares in the last quarter. Thames Capital Management LLC bought a new position in Limbach in the 4th quarter worth $4,481,000. Finally, JPMorgan Chase & Co. raised its holdings in Limbach by 698.7% in the 4th quarter. JPMorgan Chase & Co. now owns 41,483 shares of the construction company's stock worth $3,548,000 after purchasing an additional 36,289 shares in the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Joshua Horowitz sold 25,400 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the sale, the director now directly owns 164,600 shares of the company's stock, valued at approximately $12,415,778. This represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LMB has been the subject of several research reports. Stifel Nicolaus upped their price objective on shares of Limbach from $130.00 to $141.00 and gave the stock a "buy" rating in a report on Monday. Lake Street Capital upped their price objective on shares of Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. Finally, Roth Capital restated a "buy" rating on shares of Limbach in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $115.33.

Limbach Stock Down 1.9%

Shares of Limbach stock traded down $2.56 during trading on Wednesday, hitting $132.41. The company's stock had a trading volume of 104,289 shares, compared to its average volume of 177,860. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. The company has a fifty day simple moving average of $102.38 and a two-hundred day simple moving average of $94.38. The company has a market capitalization of $1.54 billion, a PE ratio of 60.19, a P/E/G ratio of 2.22 and a beta of 1.08. Limbach Holdings, Inc. has a 52 week low of $48.17 and a 52 week high of $137.05.

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

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.