Covestor Ltd Lowers Stock Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

Covestor Ltd reduced its stake in Limbach Holdings, Inc. (NASDAQ:LMB) by 44.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 424 shares of the construction company’s stock after selling 346 shares during the quarter. Covestor Ltd’s holdings in Limbach were worth $33,000 at the end of the most recent reporting period.

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

Limbach Stock Up 3.7 %

Limbach stock opened at $92.09 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 2.95 and a beta of 0.97. Limbach Holdings, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $98.36. The stock’s fifty day moving average is $79.36 and its two-hundred day moving average is $64.96.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. The company had revenue of $133.90 million for the quarter, compared to analyst estimates of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. Limbach’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. Analysts predict that Limbach Holdings, Inc. will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 5,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $64.02, for a total value of $320,100.00. Following the sale, the director now directly owns 190,000 shares in the company, valued at $12,163,800. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 19,272 shares of company stock valued at $1,188,349. Insiders own 10.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LMB. Stifel Nicolaus began coverage on Limbach in a report on Friday. They set a “buy” rating and a $108.00 price objective on the stock. StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Roth Mkm upped their price objective on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

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.