Royce & Associates LP Grows Stock Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Key Points

• Royce & Associates LP increased its stake in Limbach Holdings, Inc. by 25.7%, owning approximately 2.19% of the company worth $18.95 million after acquiring 52,030 shares.
• Insider Jay Sharp sold 2,000 shares at a price of $137.49, reducing their position by 2.78%, now holding 69,877 shares valued at about $9.61 million.
• Limbach reported earnings of $1.12 per share, significantly exceeding analysts' expectations of $0.30, and showed a revenue increase of 11.9% year-over-year.

Royce & Associates LP raised its holdings in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 25.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 254,500 shares of the construction company's stock after acquiring an additional 52,030 shares during the quarter. Royce & Associates LP owned approximately 2.19% of Limbach worth $18,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. AllGen Financial Advisors Inc. bought a new position in Limbach in the 1st quarter valued at $249,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Limbach in the 1st quarter valued at $1,439,000. FAS Wealth Partners Inc. bought a new position in shares of Limbach during the 1st quarter worth $216,000. Segall Bryant & Hamill LLC grew its position in shares of Limbach by 22.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 124,178 shares of the construction company's stock worth $9,248,000 after buying an additional 22,534 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Limbach by 635.1% during the 1st quarter. New York State Common Retirement Fund now owns 23,363 shares of the construction company's stock worth $1,740,000 after buying an additional 20,185 shares in the last quarter. Institutional investors own 55.85% of the company's stock.

Limbach Stock Up 0.2%

Shares of NASDAQ LMB traded up $0.30 during mid-day trading on Monday, reaching $134.14. 84,876 shares of the company were exchanged, compared to its average volume of 220,480. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 48.08, a P/E/G 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 firm has a 50-day moving average of $136.73 and a 200 day moving average of $106.00.

Limbach (NASDAQ:LMB - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.82. The firm had revenue of $133.11 million during the quarter, compared to analysts' expectations of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 EPS. On average, research analysts expect that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other Limbach news, insider Jay Sharp sold 2,000 shares of the 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 sale, the insider directly owned 69,877 shares in the company, valued at approximately $9,607,388.73. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.70% of the company's stock.

Wall Street Analyst Weigh In

LMB has been the topic of a number of recent research reports. Lake Street Capital increased their price target on Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen raised Limbach from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Roth Capital reissued a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus increased their price target on Limbach from $151.00 to $163.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Limbach presently has an average rating of "Buy" and an average price target of $133.00.

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.