Limbach Holdings, Inc. (NASDAQ:LMB) Stock Position Reduced by Navellier & Associates Inc.

Navellier & Associates Inc. decreased its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 49.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,715 shares of the construction company’s stock after selling 9,554 shares during the period. Navellier & Associates Inc.’s holdings in Limbach were worth $736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LMB. Vanguard Group Inc. grew its position in shares of Limbach by 6.0% during the first quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock worth $23,464,000 after acquiring an additional 32,030 shares during the last quarter. Renaissance Technologies LLC grew its position in Limbach by 6.4% in the 2nd 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. Royce & Associates LP increased its stake in shares of Limbach by 35.3% in the third quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock valued at $18,908,000 after purchasing an additional 65,082 shares during the period. American Century Companies Inc. raised its holdings in shares of Limbach by 6.0% during the second 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 last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Limbach by 37.1% during the third quarter. Segall Bryant & Hamill LLC now owns 103,008 shares of the construction company’s stock worth $7,804,000 after buying an additional 27,855 shares during the period. 55.85% of the stock is owned by institutional investors and hedge funds.

Limbach Price Performance

NASDAQ:LMB opened at $99.41 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $81.17 and its 200 day moving average price is $66.18. Limbach Holdings, Inc. has a 52-week low of $35.24 and a 52-week high of $102.33. The firm has a market cap of $1.12 billion, a P/E ratio of 45.19, a PEG ratio of 3.27 and a beta of 0.97.

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

Insider Activity

In related news, Director Joshua Horowitz sold 7,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $61.86, for a total transaction of $433,020.00. Following the transaction, the director now directly owns 203,000 shares of the company’s stock, valued at approximately $12,557,580. The trade was a 3.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Stifel Nicolaus initiated coverage on Limbach in a research note on Friday, November 15th. They set a “buy” rating and a $108.00 target price on the stock. Roth Mkm boosted their price target on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com cut shares of Limbach from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

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.