Limbach Holdings, Inc. (NASDAQ:LMB) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lowered its holdings in Limbach Holdings, Inc. (NASDAQ:LMB) by 9.1% in the third quarter, Holdings Channel.com reports. The fund owned 12,971 shares of the construction company’s stock after selling 1,299 shares during the quarter. Ritholtz Wealth Management’s holdings in Limbach were worth $983,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Limbach in the 2nd quarter worth about $223,000. Brendel Financial Advisors LLC acquired a new stake in Limbach during the 2nd quarter valued at $231,000. Meeder Asset Management Inc. grew its holdings in Limbach by 7.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock valued at $232,000 after buying an additional 292 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Limbach in the fourth quarter worth $235,000. Finally, PFG Advisors acquired a new position in shares of Limbach in the first quarter worth $253,000. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Limbach Stock Performance

Shares of NASDAQ LMB opened at $84.74 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market cap of $947.65 million, a PE ratio of 39.41, a price-to-earnings-growth ratio of 2.68 and a beta of 0.96. The company has a 50-day simple moving average of $68.63 and a 200-day simple moving average of $58.07. Limbach Holdings, Inc. has a 12 month low of $26.76 and a 12 month high of $87.00.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, August 6th. The construction company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.13. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The firm had revenue of $122.24 million for the quarter, compared to the consensus estimate of $123.50 million. During the same period in the prior year, the business posted $0.46 earnings per share. On average, equities analysts anticipate that Limbach Holdings, Inc. will post 2.43 earnings per share for the current year.

Insider Activity at Limbach

In related news, Director Joshua Horowitz sold 8,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $59.14, for a total value of $520,432.00. Following the transaction, the director now owns 223,272 shares in the company, valued at approximately $13,204,306.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 40,072 shares of company stock worth $2,418,821. 10.20% of the stock is owned by insiders.

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.