Victory Capital Management Inc. Sells 21,495 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Key Points

• Victory Capital Management Inc. reduced its stake in Limbach Holdings by 65.4%, selling 21,495 shares and leaving it with 11,390 shares valued at approximately $848,000.
• Limbach Holdings recently reported a quarterly earnings of $1.12 EPS, exceeding estimates by $0.82, with revenues also surpassing expectations at $133.11 million.
• Analysts have shown confidence in Limbach, with several firms upgrading their ratings and increasing target prices, including Stifel Nicolaus raising its target from $151 to $163.

Victory Capital Management Inc. trimmed its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 65.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,390 shares of the construction company's stock after selling 21,495 shares during the period. Victory Capital Management Inc. owned about 0.10% of Limbach worth $848,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sei Investments Co. raised its stake in Limbach by 585.9% in the 4th quarter. Sei Investments Co. now owns 27,292 shares of the construction company's stock valued at $2,335,000 after acquiring an additional 23,313 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Limbach in the fourth quarter worth approximately $154,000. LPL Financial LLC boosted its stake in Limbach by 11.6% in the fourth quarter. LPL Financial LLC now owns 6,197 shares of the construction company's stock worth $530,000 after buying an additional 644 shares in the last quarter. Vanguard Group Inc. boosted its stake in Limbach by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 604,397 shares of the construction company's stock worth $51,700,000 after buying an additional 3,001 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Limbach by 698.7% during the fourth quarter. JPMorgan Chase & Co. now owns 41,483 shares of the construction company's stock valued at $3,548,000 after purchasing an additional 36,289 shares during the period. 55.85% of the stock is currently owned by institutional investors.

Insider Transactions at Limbach

In other Limbach news, insider Jay Sharp sold 2,000 shares of the firm's 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 transaction, the insider directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 10.20% of the company's stock.

Limbach Stock Performance

Shares of Limbach stock traded down $1.99 during trading on Monday, hitting $131.50. 70,246 shares of the company's stock traded hands, compared to its average volume of 218,230. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 1.55. Limbach Holdings, Inc. has a 1 year low of $48.17 and a 1 year high of $154.05. The stock has a market capitalization of $1.53 billion, a P/E ratio of 47.13, a PEG ratio of 2.54 and a beta of 1.22. The business has a 50-day simple moving average of $137.60 and a 200-day simple moving average of $107.38.

Limbach (NASDAQ:LMB - Get Free Report) last released 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 for 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%. Limbach's revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. As a group, analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

LMB has been the subject of a number of analyst reports. Stifel Nicolaus increased their price objective on Limbach from $151.00 to $163.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wall Street Zen raised Limbach from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Lake Street Capital raised their price target on Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, Roth Capital reiterated a "buy" rating on shares of Limbach in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $133.00.

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.