PEAK6 LLC purchased a new stake in Limbach Holdings, Inc. (NASDAQ:LMB – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,810 shares of the construction company’s stock, valued at approximately $909,000. PEAK6 LLC owned about 0.10% of Limbach at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Limbach by 23.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock valued at $53,000 after purchasing an additional 130 shares in the last quarter. Comerica Bank lifted its holdings in shares of Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after buying an additional 167 shares during the period. State of Wyoming acquired a new stake in shares of Limbach in the 2nd quarter valued at approximately $71,000. Fifth Third Bancorp purchased a new stake in shares of Limbach in the first quarter valued at approximately $85,000. Finally, Royal Bank of Canada boosted its stake in shares of Limbach by 34.5% in the fourth quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock valued at $113,000 after buying an additional 371 shares in the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.
Limbach Price Performance
LMB opened at $42.90 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.49 and a current ratio of 1.49. 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 Holdings, Inc. has a one year low of $41.92 and a one year high of $128.57. The business’s fifty day moving average is $68.44 and its two-hundred day moving average is $78.43.
Insiders Place Their Bets
In other Limbach news, EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.82, for a total transaction of $388,803.22. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.00% of the company’s stock.
Analyst Upgrades and Downgrades
LMB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered Limbach from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $60.00 to $50.00 in a report on Friday. Stifel Nicolaus decreased their target price on shares of Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Wall Street Zen cut shares of Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada set a $50.00 price target on shares of Limbach in a research note on Friday. Finally, Zacks Research downgraded shares of Limbach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Limbach currently has a consensus rating of “Reduce” and an average target price of $62.00.
Read Our Latest Stock Report on Limbach
Limbach Company Profile
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.
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