Neumeier Poma Investment Counsel LLC Acquires New Position in Limbach Holdings, Inc. $LMB

Neumeier Poma Investment Counsel LLC bought a new stake in Limbach Holdings, Inc. (NASDAQ:LMBFree Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 323,953 shares of the construction company’s stock, valued at approximately $24,944,381,000. Limbach comprises 1.7% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 29th biggest position. Neumeier Poma Investment Counsel LLC owned about 2.72% of Limbach as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its position in shares of Limbach by 23.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock valued at $53,000 after buying an additional 130 shares during the period. Comerica Bank increased its stake in Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after acquiring an additional 167 shares during the last quarter. Caxton Associates LLP raised its position in Limbach by 4.9% in the third quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock valued at $352,000 after purchasing an additional 168 shares during the period. The Manufacturers Life Insurance Company raised its position in Limbach by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company’s stock valued at $537,000 after purchasing an additional 204 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Limbach by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock valued at $451,000 after purchasing an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Limbach from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $60.00 to $50.00 in a report on Friday. Zacks Research downgraded shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Stifel Nicolaus decreased their price objective on shares of Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Limbach in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $62.00.

Check Out Our Latest Stock Report on LMB

Insider Transactions at Limbach

In other news, EVP Jay Sharp sold 4,871 shares of Limbach stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.82, for a total value of $388,803.22. Following the completion of the transaction, the executive vice president owned 73,456 shares in the company, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is owned by corporate insiders.

Limbach Stock Performance

NASDAQ:LMB opened at $42.90 on Monday. Limbach Holdings, Inc. has a 52 week low of $41.92 and a 52 week high of $128.57. The company has a fifty day simple moving average of $68.44 and a two-hundred day simple moving average of $78.43. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18. The company has a market cap of $511.80 million, a price-to-earnings ratio of 17.16 and a beta of 1.45.

Limbach (NASDAQ:LMBGet Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29). The company had revenue of $173.46 million during the quarter, compared to analyst estimates of $177.33 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. As a group, equities analysts anticipate that Limbach Holdings, Inc. will post 4.17 earnings per share for the current fiscal year.

Limbach Profile

(Free Report)

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.

See Also

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Institutional Ownership by Quarter for Limbach (NASDAQ:LMB)

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