Renaissance Technologies LLC Sells 3,800 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Renaissance Technologies LLC lessened its stake in Limbach Holdings, Inc. (NASDAQ:LMB) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 358,271 shares of the construction company’s stock after selling 3,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Limbach were worth $30,647,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. IFP Advisors Inc purchased a new stake in Limbach in the 4th quarter valued at about $37,000. US Bancorp DE bought a new position in shares of Limbach in the fourth quarter valued at approximately $115,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Limbach during the fourth quarter valued at approximately $154,000. Bailard Inc. purchased a new position in Limbach in the fourth quarter worth $257,000. Finally, Sanctuary Advisors LLC bought a new position in Limbach in the 3rd quarter valued at $262,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Performance

NASDAQ LMB opened at $80.63 on Friday. The company’s 50 day moving average is $80.80 and its 200-day moving average is $86.70. The firm has a market cap of $915.39 million, a P/E ratio of 36.65, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01. Limbach Holdings, Inc. has a 12-month low of $38.39 and a 12-month high of $107.00. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14.

Limbach (NASDAQ:LMB) last posted its earnings results on Monday, March 10th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.31. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm had revenue of $143.70 million for the quarter, compared to the consensus estimate of $149.37 million. During the same quarter in the prior year, the business posted $0.68 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on LMB. Stifel Nicolaus set a $103.00 target price on shares of Limbach in a research report on Wednesday, March 12th. Lake Street Capital raised their target price on Limbach from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th.

Insider Buying and Selling

In related news, Director Joshua Horowitz sold 25,400 shares of Limbach stock in a transaction on Friday, March 14th. The stock was sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the completion of the sale, the director now owns 164,600 shares of the company’s stock, valued at approximately $12,415,778. This trade represents a 13.37 % 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 insiders.

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.