Grandeur Peak Global Advisors LLC acquired a new position in shares of Limbach Holdings, Inc. (NASDAQ:LMB – Free Report) during the second quarter, HoldingsChannel.com reports. The fund acquired 47,007 shares of the construction company’s stock, valued at approximately $3,620,000. Limbach accounts for approximately 0.9% of Grandeur Peak Global Advisors LLC’s holdings, making the stock its 23rd largest position.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wasatch Advisors LP grew its stake in shares of Limbach by 37.8% in the fourth quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock valued at $77,647,000 after buying an additional 273,818 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Limbach during the 2nd quarter valued at about $75,410,000. Thrivent Financial for Lutherans lifted its position in Limbach by 7.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company’s stock worth $61,550,000 after acquiring an additional 55,511 shares in the last quarter. First Trust Advisors LP boosted its holdings in Limbach by 36.0% in the 4th quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock worth $34,423,000 after acquiring an additional 117,035 shares during the period. Finally, Invesco Ltd. boosted its holdings in Limbach by 2,041.6% in the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock worth $56,124,000 after acquiring an additional 381,897 shares during the period. Institutional investors and hedge funds own 55.85% of the company’s stock.
Insider Activity at Limbach
In other news, EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president owned 73,456 shares of the company’s stock, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 7.00% of the company’s stock.
Limbach Stock Performance
Limbach (NASDAQ:LMB – Get Free Report) last posted 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). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The business had revenue of $173.46 million for the quarter, compared to analysts’ expectations of $177.33 million. Sell-side analysts forecast that Limbach Holdings, Inc. will post 4.17 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Royal Bank Of Canada set a $50.00 price objective on shares of Limbach in a research report on Friday, August 21st. Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. downgraded shares of Limbach from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $60.00 to $50.00 in a research note on Friday, August 21st. Stifel Nicolaus lowered their price target on shares of Limbach from $107.00 to $86.00 and set a “buy” rating for the company in a report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Limbach in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $62.00.
Get Our Latest Report on Limbach
About Limbach
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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