Limbach Holdings, Inc. (NASDAQ:LMB) Shares Acquired by Royce & Associates LP

Royce & Associates LP increased its stake in Limbach Holdings, Inc. (NASDAQ:LMB) by 35.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 249,578 shares of the construction company’s stock after acquiring an additional 65,082 shares during the quarter. Royce & Associates LP’s holdings in Limbach were worth $18,908,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. American Capital Advisory LLC acquired a new position in shares of Limbach in the 3rd quarter worth $25,000. nVerses Capital LLC purchased a new position in shares of Limbach during the third quarter valued at $53,000. Harbor Capital Advisors Inc. grew its holdings in shares of Limbach by 6.3% during the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock valued at $207,000 after buying an additional 162 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Limbach during the second quarter valued at $223,000. Finally, Brendel Financial Advisors LLC purchased a new position in shares of Limbach during the second quarter valued at $231,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Joshua Horowitz sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $61.86, for a total transaction of $433,020.00. Following the completion of the transaction, the director now owns 203,000 shares of the company’s stock, valued at approximately $12,557,580. The trade was a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 19,272 shares of company stock valued at $1,188,349 over the last quarter. Insiders own 10.20% of the company’s stock.

Limbach Price Performance

LMB opened at $92.09 on Friday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 2.95 and a beta of 0.97. Limbach Holdings, Inc. has a 1 year low of $35.24 and a 1 year high of $98.36. 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 fifty day moving average price of $79.36 and a 200 day moving average price of $64.96.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. During the same quarter last year, the firm earned $0.61 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts forecast that Limbach Holdings, Inc. will post 2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on Limbach in a report on Friday. They set a “buy” rating and a $108.00 price target on the stock. Roth Mkm lifted their price target on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a report on Thursday.

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.