Corient Private Wealth LP Takes $1.78 Million Position in Limbach Holdings, Inc. $LMB

Corient Private Wealth LP purchased a new stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) in the 2nd quarter, Holdings Channel reports. The fund purchased 23,135 shares of the construction company’s stock, valued at approximately $1,781,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new position in Limbach in the 2nd quarter valued at approximately $880,000. Polar Asset Management Partners Inc. bought a new stake in shares of Limbach in the 2nd quarter worth $10,156,000. Jupiter Topco LLC bought a new stake in shares of Limbach in the 2nd quarter worth $1,686,000. Hsbc Holdings PLC bought a new stake in shares of Limbach in the 2nd quarter worth $443,000. Finally, Expect Equity LLC purchased a new position in shares of Limbach in the second quarter worth $2,663,000. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Limbach

In other Limbach news, EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.82, for a total value of $388,803.22. Following the transaction, the executive vice president directly owned 73,456 shares of the company’s stock, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.00% of the company’s stock.

Limbach Stock Performance

LMB stock opened at $49.55 on Friday. The company has a market cap of $591.13 million, a P/E ratio of 19.82 and a beta of 1.42. Limbach Holdings, Inc. has a 1 year low of $40.74 and a 1 year high of $114.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s fifty day moving average price is $61.82 and its 200-day moving average price is $75.59.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.29). The firm had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million. Limbach had a return on equity of 23.22% and a net margin of 4.42%. On average, equities analysts forecast that Limbach Holdings, Inc. will post 4.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. JPMorgan Chase & Co. downgraded Limbach from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $60.00 to $50.00 in a report on Friday, August 21st. Wall Street Zen lowered Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, Lake Street Capital raised their price target on shares of Limbach from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Limbach presently has a consensus rating of “Hold” and a consensus price target of $70.25.

Limbach 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.