Limbach Holdings, Inc. (NASDAQ:LMB) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. cut its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 49.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,715 shares of the construction company’s stock after selling 9,554 shares during the quarter. Navellier & Associates Inc. owned 0.09% of Limbach worth $736,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LMB. Vanguard Group Inc. raised its holdings in Limbach by 6.0% in the first quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock valued at $23,464,000 after acquiring an additional 32,030 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Limbach by 6.0% during the second quarter. American Century Companies Inc. now owns 208,223 shares of the construction company’s stock worth $11,854,000 after purchasing an additional 11,782 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Limbach in the third quarter valued at $568,000. Russell Investments Group Ltd. raised its stake in Limbach by 368.5% in the first quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock valued at $2,977,000 after buying an additional 56,535 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Limbach by 34.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 83,385 shares of the construction company’s stock worth $6,317,000 after buying an additional 21,346 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Stifel Nicolaus began coverage on Limbach in a report on Friday, November 15th. They issued a “buy” rating and a $108.00 price target for the company. Finally, Roth Mkm increased their price objective on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

Insider Activity at Limbach

In related news, Director Joshua Horowitz sold 5,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $64.02, for a total transaction of $320,100.00. Following the completion of the sale, the director now owns 190,000 shares of the company’s stock, valued at approximately $12,163,800. This represents a 2.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.20% of the company’s stock.

Limbach Stock Up 2.6 %

Shares of NASDAQ LMB opened at $99.41 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The firm’s 50-day moving average is $81.17 and its two-hundred day moving average is $66.18. Limbach Holdings, Inc. has a 12-month low of $35.24 and a 12-month high of $102.33. The company has a market capitalization of $1.12 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 3.27 and a beta of 0.97.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. During the same quarter last year, the business posted $0.61 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

About Limbach

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.