First Trust Advisors LP Raises Stock Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

First Trust Advisors LP lifted its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 67.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 322,396 shares of the construction company’s stock after acquiring an additional 129,869 shares during the period. First Trust Advisors LP owned 2.86% of Limbach worth $27,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new stake in shares of Limbach during the fourth quarter worth $37,000. US Bancorp DE acquired a new stake in Limbach in the 4th quarter worth about $115,000. KLP Kapitalforvaltning AS purchased a new stake in Limbach in the 4th quarter valued at about $154,000. Bailard Inc. acquired a new position in shares of Limbach during the 4th quarter valued at about $257,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Limbach by 5.2% during the 4th quarter. Teacher Retirement System of Texas now owns 3,453 shares of the construction company’s stock valued at $295,000 after acquiring an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Insider Activity at Limbach

In related news, Director Joshua Horowitz sold 25,400 shares of Limbach 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 sale, the director now owns 164,600 shares of the company’s stock, valued at $12,415,778. The trade was a 13.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 10.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LMB. Stifel Nicolaus set a $103.00 price target on shares of Limbach in a research report on Wednesday, March 12th. Lake Street Capital upped their price objective on Limbach from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th.

Limbach Stock Down 0.6 %

LMB opened at $92.76 on Friday. Limbach Holdings, Inc. has a 1 year low of $43.00 and a 1 year high of $107.00. The firm has a 50 day moving average price of $79.24 and a 200 day moving average price of $87.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market cap of $1.05 billion, a PE ratio of 42.16, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Monday, March 10th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.31. The company had revenue of $143.70 million during the quarter, compared to analyst estimates of $149.37 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. Sell-side analysts expect that Limbach Holdings, Inc. will post 2.54 earnings per share for the current 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.