Great Lakes Advisors LLC Sells 37,265 Shares of Limbach Holdings, Inc. $LMB

Great Lakes Advisors LLC decreased its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 49.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 37,421 shares of the construction company’s stock after selling 37,265 shares during the period. Great Lakes Advisors LLC’s holdings in Limbach were worth $3,634,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in Limbach by 2,041.6% in the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock worth $56,124,000 after acquiring an additional 381,897 shares in the last quarter. First Trust Advisors LP grew its stake in Limbach by 1,192.1% in the second quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock worth $57,606,000 after purchasing an additional 379,357 shares in the last quarter. Wasatch Advisors LP grew its stake in Limbach by 59.2% in the second quarter. Wasatch Advisors LP now owns 638,879 shares of the construction company’s stock worth $89,507,000 after purchasing an additional 237,475 shares in the last quarter. Makaira Partners LLC purchased a new position in Limbach during the 2nd quarter worth $7,319,000. Finally, Federated Hermes Inc. raised its position in Limbach by 36,925.7% during the 2nd quarter. Federated Hermes Inc. now owns 27,399 shares of the construction company’s stock valued at $3,839,000 after purchasing an additional 27,325 shares in the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Limbach

In related news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $77.98, for a total value of $155,960.00. Following the completion of the transaction, the insider owned 64,979 shares in the company, valued at $5,067,062.42. The trade was a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.70% of the company’s stock.

Limbach Trading Up 2.9%

NASDAQ:LMB opened at $85.98 on Friday. The company has a market capitalization of $999.95 million, a P/E ratio of 28.28 and a beta of 1.26. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. Limbach Holdings, Inc. has a 12 month low of $63.02 and a 12 month high of $154.05. The firm has a fifty day simple moving average of $78.49 and a 200-day simple moving average of $95.35.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, November 4th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.04). The firm had revenue of $184.58 million during the quarter, compared to analysts’ expectations of $184.48 million. Limbach had a return on equity of 30.80% and a net margin of 6.06%.The company’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, equities research analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Limbach declared that its Board of Directors has approved a share repurchase plan on Monday, December 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to buy up to 5.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a research report on Monday, December 29th. Zacks Research upgraded shares of Limbach from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Stifel Nicolaus cut their price objective on shares of Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.00.

Limbach Company Profile

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.