Ritholtz Wealth Management Trims Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

Ritholtz Wealth Management decreased its holdings in Limbach Holdings, Inc. (NASDAQ:LMB) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,641 shares of the construction company’s stock after selling 381 shares during the quarter. Ritholtz Wealth Management owned about 0.10% of Limbach worth $867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ProShare Advisors LLC purchased a new position in Limbach during the 4th quarter worth $246,000. US Bancorp DE purchased a new position in Limbach during the fourth quarter worth about $115,000. Man Group plc purchased a new position in Limbach during the fourth quarter worth about $356,000. Harbor Capital Advisors Inc. lifted its position in Limbach by 43.2% in the first quarter. Harbor Capital Advisors Inc. now owns 3,656 shares of the construction company’s stock valued at $272,000 after purchasing an additional 1,103 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Limbach by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 85,086 shares of the construction company’s stock valued at $7,278,000 after purchasing an additional 1,141 shares in the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Up 0.7%

Shares of NASDAQ:LMB opened at $142.14 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.55 and a current ratio of 1.55. Limbach Holdings, Inc. has a 1 year low of $48.17 and a 1 year high of $143.58. The stock has a market capitalization of $1.65 billion, a P/E ratio of 50.95, a PEG ratio of 2.68 and a beta of 1.21. The stock has a 50-day simple moving average of $114.09 and a 200-day simple moving average of $96.78.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.82. The firm had revenue of $133.11 million during the quarter, compared to analysts’ expectations of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. Limbach’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. Equities analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LMB. Stifel Nicolaus upped their target price on shares of Limbach from $130.00 to $141.00 and gave the stock a “buy” rating in a research report on Monday, June 2nd. Roth Capital restated a “buy” rating on shares of Limbach in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.33.

Insider Activity at Limbach

In related news, insider Jay Sharp sold 2,000 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $137.49, for a total transaction of $274,980.00. Following the completion of the sale, the insider now directly owns 69,877 shares in the company, valued at approximately $9,607,388.73. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.20% of the stock is 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.