State Street Corp Boosts Stock Position in Limbach Holdings, Inc. (NASDAQ:LMB)

State Street Corp boosted its position in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 11.1% in the third quarter, HoldingsChannel.com reports. The fund owned 219,120 shares of the construction company’s stock after purchasing an additional 21,951 shares during the period. State Street Corp’s holdings in Limbach were worth $16,601,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LMB. Renaissance Technologies LLC grew its holdings in shares of Limbach by 6.4% during the second quarter. Renaissance Technologies LLC now owns 394,871 shares of the construction company’s stock worth $22,480,000 after purchasing an additional 23,700 shares during the last quarter. Wasatch Advisors LP raised its position in Limbach by 6.7% in the third quarter. Wasatch Advisors LP now owns 372,836 shares of the construction company’s stock worth $28,246,000 after acquiring an additional 23,360 shares in the last quarter. Corsair Capital Management L.P. lifted its stake in shares of Limbach by 1.3% in the third quarter. Corsair Capital Management L.P. now owns 313,360 shares of the construction company’s stock valued at $23,740,000 after purchasing an additional 3,988 shares during the period. Royce & Associates LP boosted its position in shares of Limbach by 35.3% in the 3rd quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock worth $18,908,000 after buying an additional 65,082 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Limbach by 6.0% in the second quarter. American Century Companies Inc. now owns 208,223 shares of the construction company’s stock valued at $11,854,000 after purchasing an additional 11,782 shares during the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com cut Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Stifel Nicolaus lifted their price target on shares of Limbach from $108.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Roth Mkm increased their target price on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Limbach Price Performance

Shares of LMB opened at $88.01 on Wednesday. Limbach Holdings, Inc. has a 12 month low of $35.24 and a 12 month high of $107.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $991.87 million, a P/E ratio of 40.00, a PEG ratio of 3.10 and a beta of 1.09. The stock has a fifty day moving average price of $90.54 and a 200 day moving average price of $73.51.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, topping 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 the consensus estimate of $129.50 million. During the same period in the prior year, the firm posted $0.61 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Limbach

In other news, Director David Richard Gaboury acquired 531 shares of the stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average cost of $94.51 per share, for a total transaction of $50,184.81. Following the completion of the transaction, the director now owns 2,071 shares in the company, valued at approximately $195,730.21. This trade represents a 34.48 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 10.20% of the company’s stock.

Limbach 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.