Quantedge Capital Pte Ltd Sells 13,600 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Quantedge Capital Pte Ltd lessened its holdings in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 46.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,500 shares of the construction company's stock after selling 13,600 shares during the period. Quantedge Capital Pte Ltd owned 0.14% of Limbach worth $1,326,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. IFP Advisors Inc bought a new position in Limbach in the fourth quarter worth approximately $37,000. Comerica Bank grew its holdings in shares of Limbach by 727.4% during the fourth quarter. Comerica Bank now owns 695 shares of the construction company's stock valued at $59,000 after buying an additional 611 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Limbach during the fourth quarter valued at $115,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Limbach during the fourth quarter valued at $154,000. Finally, Balyasny Asset Management L.P. acquired a new position in Limbach during the fourth quarter valued at $223,000. Hedge funds and other institutional investors own 55.85% of the company's stock.

Insider Transactions at Limbach

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $12,415,778. This trade represents a 13.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.70% of the company's stock.

Limbach Stock Performance

Shares of LMB opened at $122.82 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.43 billion, a P/E ratio of 55.83, a PEG ratio of 2.22 and a beta of 1.08. The company has a 50-day moving average of $87.29 and a two-hundred day moving average of $89.94. Limbach Holdings, Inc. has a 12-month low of $47.22 and a 12-month high of $128.17.

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

Analyst Ratings Changes

A number of research analysts have weighed in on LMB shares. Roth Capital reiterated a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. Lake Street Capital increased their price objective on shares of Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus set a $103.00 price objective on shares of Limbach in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $102.67.

Limbach Company 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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