Russell Investments Group Ltd. increased its position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 46.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 108,684 shares of the construction company's stock after purchasing an additional 34,395 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.93% of Limbach worth $8,094,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Limbach by 592.6% in the 1st quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock valued at $28,000 after purchasing an additional 320 shares during the period. Legacy Advisors LLC purchased a new position in shares of Limbach in the 1st quarter valued at approximately $30,000. Comerica Bank increased its position in Limbach by 727.4% during the 4th quarter. Comerica Bank now owns 695 shares of the construction company's stock valued at $59,000 after buying an additional 611 shares in the last quarter. FAS Wealth Partners Inc. bought a new position in Limbach during the 1st quarter valued at approximately $216,000. Finally, Balyasny Asset Management L.P. bought a new position in Limbach during the 4th quarter valued at approximately $223,000. Hedge funds and other institutional investors own 55.85% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on LMB. Wall Street Zen lowered Limbach from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Stifel Nicolaus set a $146.00 price objective on Limbach in a research report on Wednesday, August 6th. Roth Capital reaffirmed a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Finally, Lake Street Capital raised their price objective on Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $127.33.
Read Our Latest Report on LMB
Insider Activity at Limbach
In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction on 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 owned 69,877 shares of the company's stock, valued at approximately $9,607,388.73. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.20% of the company's stock.
Limbach Stock Down 0.9%
Limbach stock opened at $115.48 on Wednesday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 39.41, a PEG ratio of 2.19 and a beta of 1.22. The stock has a fifty day simple moving average of $133.88 and a two-hundred day simple moving average of $108.93. Limbach Holdings, Inc. has a 12 month low of $58.91 and a 12 month high of $154.05. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.17.
Limbach (NASDAQ:LMB - Get Free Report) last posted its earnings results on Tuesday, August 5th. The construction company reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.12. The business had revenue of $142.24 million during the quarter, compared to analyst estimates of $144.21 million. Limbach had a return on equity of 29.38% and a net margin of 6.38%.The company's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 EPS. Limbach has set its FY 2025 guidance at EPS. Equities analysts predict that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.
Limbach Company Profile
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Free Report)
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.
Further Reading
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