XTX Topco Ltd Buys Shares of 5,073 Limbach Holdings, Inc. (NASDAQ:LMB)

Key Points

• XTX Topco Ltd has acquired a new stake in Limbach Holdings, purchasing 5,073 shares valued at approximately $378,000.
• Wall Street analysts have recently raised their price targets on Limbach, with estimates now ranging up to $163.00 and a consensus rating of "Buy."
• Limbach reported $0.93 EPS for the quarter, exceeding estimates and marking a 16.4% year-over-year revenue growth.

XTX Topco Ltd purchased a new stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,073 shares of the construction company's stock, valued at approximately $378,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Limbach by 10.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,009 shares of the construction company's stock worth $2,483,000 after buying an additional 3,034 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Limbach by 16,413.0% during the first quarter. GAMMA Investing LLC now owns 3,798 shares of the construction company's stock valued at $283,000 after acquiring an additional 3,775 shares during the period. Principal Financial Group Inc. raised its position in Limbach by 7.5% in the 1st quarter. Principal Financial Group Inc. now owns 13,873 shares of the construction company's stock valued at $1,033,000 after purchasing an additional 963 shares during the last quarter. Teacher Retirement System of Texas raised its position in Limbach by 259.3% in the 1st quarter. Teacher Retirement System of Texas now owns 12,408 shares of the construction company's stock valued at $924,000 after purchasing an additional 8,955 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in Limbach in the 4th quarter valued at $246,000. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the 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 transaction, the insider directly owned 69,877 shares in the company, valued at $9,607,388.73. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Roth Capital reiterated a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Lake Street Capital lifted their price target on shares of 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 shares of Limbach from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Finally, Stifel Nicolaus set a $146.00 price target on shares of Limbach in a research report on Wednesday, August 6th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Limbach presently has a consensus rating of "Buy" and a consensus target price of $127.33.

Limbach Price Performance

Shares of NASDAQ LMB traded down $1.85 during midday trading on Wednesday, reaching $107.07. 103,130 shares of the company were exchanged, compared to its average volume of 226,048. The stock's 50-day moving average price is $135.94 and its 200-day moving average price is $108.23. The stock has a market cap of $1.24 billion, a P/E ratio of 36.66, a PEG ratio of 2.08 and a beta of 1.22. Limbach Holdings, Inc. has a one year low of $57.33 and a one year high of $154.05. The company has a quick ratio of 1.69, a current 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.12. The firm had revenue of $142.24 million for the quarter, compared to analysts' expectations of $144.21 million. Limbach had a net margin of 6.38% and a return on equity of 29.38%. The company's revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. On average, sell-side analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal 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.