Limbach Holdings, Inc. (NASDAQ:LMB) Position Cut by Voya Investment Management LLC

Voya Investment Management LLC decreased its position in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 44.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,544 shares of the construction company's stock after selling 3,675 shares during the quarter. Voya Investment Management LLC's holdings in Limbach were worth $389,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LMB. Price T Rowe Associates Inc. MD grew its position in Limbach by 10.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,611 shares of the construction company's stock worth $652,000 after purchasing an additional 744 shares during the last quarter. Harvest Investment Services LLC grew its holdings in Limbach by 66.0% in the 4th quarter. Harvest Investment Services LLC now owns 44,230 shares of the construction company's stock worth $3,783,000 after buying an additional 17,580 shares in the last quarter. Stifel Financial Corp bought a new stake in Limbach during the 4th quarter valued at $441,000. MetLife Investment Management LLC boosted its position in Limbach by 10.2% during the 4th quarter. MetLife Investment Management LLC now owns 6,240 shares of the construction company's stock worth $534,000 after acquiring an additional 578 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Limbach by 67.5% in the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company's stock worth $27,578,000 after purchasing an additional 129,869 shares in the last quarter. Institutional investors own 55.85% of the company's stock.

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 25,400 shares of the stock in a transaction 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 transaction, the director now owns 164,600 shares in the company, valued at $12,415,778. This represents a 13.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Roth Capital restated a "buy" rating on shares of Limbach in a research note on Wednesday. Stifel Nicolaus set a $103.00 price objective on shares of Limbach in a report on Wednesday, March 12th. Finally, Lake Street Capital boosted their target price on Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Limbach presently has an average rating of "Moderate Buy" and a consensus target price of $102.67.

Limbach Stock Performance

Shares of Limbach stock opened at $122.34 on Friday. The stock has a market cap of $1.42 billion, a PE ratio of 55.61, a price-to-earnings-growth ratio of 2.22 and a beta of 1.08. The business has a fifty day simple moving average of $84.39 and a 200-day simple moving average of $89.10. 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 Holdings, Inc. has a 12 month low of $47.22 and a 12 month high of $122.76.

Limbach (NASDAQ:LMB - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.82. The business had revenue of $133.11 million during the quarter, compared to analyst estimates of $121.06 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, sell-side analysts anticipate 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.

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