First Trust Advisors LP Has $1.22 Million Stake in Limbach Holdings, Inc. $LMB

First Trust Advisors LP cut its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 96.5% in the first quarter, HoldingsChannel reports. The fund owned 15,655 shares of the construction company’s stock after selling 426,518 shares during the quarter. First Trust Advisors LP’s holdings in Limbach were worth $1,222,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Limbach during the 3rd quarter worth about $54,000. Comerica Bank grew its stake in Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after buying an additional 167 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Limbach in the 1st quarter valued at approximately $85,000. BNP Paribas Financial Markets increased its position in Limbach by 59.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock worth $158,000 after buying an additional 423 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Limbach by 34.5% during the fourth quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock valued at $113,000 after buying an additional 371 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Price Performance

Limbach stock opened at $48.70 on Monday. The business’s 50-day simple moving average is $75.73 and its 200 day simple moving average is $81.18. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18. The stock has a market cap of $580.99 million, a price-to-earnings ratio of 19.48 and a beta of 1.45. Limbach Holdings, Inc. has a 12-month low of $47.15 and a 12-month high of $128.57.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The firm had revenue of $173.46 million for the quarter, compared to the consensus estimate of $177.33 million. As a group, research analysts anticipate that Limbach Holdings, Inc. will post 4.63 earnings per share for the current year.

Insider Buying and Selling at Limbach

In related news, EVP Jay Sharp sold 4,871 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $79.82, for a total transaction of $388,803.22. Following the completion of the sale, the executive vice president directly owned 73,456 shares of the company’s stock, valued at $5,863,257.92. The trade was a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LMB. Weiss Ratings reiterated a “hold (c)” rating on shares of Limbach in a research note on Wednesday. Wall Street Zen lowered Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Limbach presently has a consensus rating of “Hold” and a consensus price target of $97.00.

About Limbach

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.