Silvercrest Asset Management Group LLC Makes New Investment in Limbach Holdings, Inc. (NASDAQ:LMB)

Silvercrest Asset Management Group LLC acquired a new position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 58,935 shares of the construction company's stock, valued at approximately $5,041,000. Silvercrest Asset Management Group LLC owned 0.52% of Limbach as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Moody Aldrich Partners LLC bought a new stake in Limbach in the fourth quarter worth about $4,430,000. US Bancorp DE bought a new stake in Limbach in the fourth quarter worth about $115,000. JPMorgan Chase & Co. increased its stake in shares of Limbach by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 5,194 shares of the construction company's stock worth $393,000 after purchasing an additional 699 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Limbach by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 85,086 shares of the construction company's stock worth $7,278,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Limbach in the fourth quarter worth about $223,000. Institutional investors own 55.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LMB. Lake Street Capital lifted their target price 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 reiterated a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus set a $103.00 target price on shares of Limbach in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Limbach has an average rating of "Moderate Buy" and an average target price of $102.67.

Insider Activity at Limbach

In related news, Director Joshua Horowitz sold 25,400 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director now owns 164,600 shares of the company's stock, valued at approximately $12,415,778. The trade was a 13.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.70% of the stock is owned by corporate insiders.

Limbach Price Performance

NASDAQ:LMB traded up $2.33 during mid-day trading on Friday, hitting $127.95. 114,942 shares of the stock traded hands, compared to its average volume of 175,870. The business's 50-day moving average price is $94.47 and its 200 day moving average price is $92.31. The company has a market cap of $1.49 billion, a PE ratio of 58.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08. Limbach Holdings, Inc. has a 12-month low of $48.17 and a 12-month high of $129.40. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14.

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