Limbach Holdings, Inc. (NASDAQ:LMB) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lowered its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 6.7% during the fourth quarter, Holdings Channel reports. The fund owned 2,553 shares of the construction company’s stock after selling 183 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Limbach were worth $218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LMB. Bank of New York Mellon Corp boosted its holdings in shares of Limbach by 10.2% during the second quarter. Bank of New York Mellon Corp now owns 33,829 shares of the construction company’s stock worth $1,926,000 after purchasing an additional 3,120 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Limbach by 2.3% in the 2nd quarter. Victory Capital Management Inc. now owns 64,979 shares of the construction company’s stock worth $3,699,000 after buying an additional 1,481 shares during the last quarter. American Century Companies Inc. grew its holdings in Limbach by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 208,223 shares of the construction company’s stock valued at $11,854,000 after buying an additional 11,782 shares during the period. Renaissance Technologies LLC increased its stake in shares of Limbach by 6.4% during the 2nd quarter. Renaissance Technologies LLC now owns 394,871 shares of the construction company’s stock valued at $22,480,000 after acquiring an additional 23,700 shares during the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of Limbach by 7.2% during the 2nd quarter. Brighton Jones LLC now owns 14,106 shares of the construction company’s stock worth $803,000 after acquiring an additional 943 shares during the period. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Insider Transactions at Limbach

In related news, Director David Richard Gaboury purchased 531 shares of Limbach stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average price of $94.51 per share, with a total value of $50,184.81. Following the completion of the transaction, the director now owns 2,071 shares of the company’s stock, valued at approximately $195,730.21. This trade represents a 34.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Limbach Price Performance

LMB stock opened at $100.28 on Wednesday. The firm has a market cap of $1.13 billion, a P/E ratio of 45.58, a price-to-earnings-growth ratio of 3.10 and a beta of 1.11. Limbach Holdings, Inc. has a 1 year low of $35.24 and a 1 year high of $107.00. The stock has a 50-day simple moving average of $94.46 and a 200-day simple moving average of $77.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The business had revenue of $133.90 million during the quarter, compared to analyst estimates of $129.50 million. During the same period last year, the business earned $0.61 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

About Limbach

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.