Campbell Newman Asset Management Inc. Buys Shares of 25,017 Limbach Holdings, Inc. $LMB

Campbell Newman Asset Management Inc. purchased a new stake in Limbach Holdings, Inc. (NASDAQ:LMB) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 25,017 shares of the construction company’s stock, valued at approximately $1,953,000.

Several other hedge funds have also recently modified their holdings of the business. Invesco Ltd. boosted its stake in shares of Limbach by 2,041.6% during the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock valued at $56,124,000 after purchasing an additional 381,897 shares in the last quarter. Wasatch Advisors LP raised its stake in Limbach by 37.8% in the fourth quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock worth $77,647,000 after buying an additional 273,818 shares in the last quarter. Neumeier Poma Investment Counsel LLC raised its stake in Limbach by 151.5% in the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 318,238 shares of the construction company’s stock worth $24,775,000 after buying an additional 191,685 shares in the last quarter. Royce & Associates LP lifted its holdings in Limbach by 83.7% during the fourth quarter. Royce & Associates LP now owns 335,663 shares of the construction company’s stock worth $26,131,000 after buying an additional 152,956 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Limbach by 36.0% during the fourth quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock worth $34,423,000 after buying an additional 117,035 shares during the period. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Price Performance

Shares of Limbach stock opened at $80.15 on Monday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. The company has a market cap of $955.39 million, a P/E ratio of 29.15 and a beta of 1.42. The firm’s 50 day moving average price is $82.76 and its 200-day moving average price is $82.44. Limbach Holdings, Inc. has a 52-week low of $65.08 and a 52-week high of $154.05.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, May 5th. The construction company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.43. The company had revenue of $138.86 million during the quarter, compared to analysts’ expectations of $134.23 million. Limbach had a net margin of 5.09% and a return on equity of 26.17%. Limbach’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 earnings per share. On average, sell-side analysts predict that Limbach Holdings, Inc. will post 4.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LMB shares. Weiss Ratings downgraded Limbach from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Wall Street Zen lowered Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. decreased their price objective on Limbach from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $116.67.

Insider Buying and Selling at Limbach

In other news, CFO Jayme L. Brooks sold 5,703 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $85.43, for a total value of $487,207.29. Following the completion of the sale, the chief financial officer owned 130,840 shares of the company’s stock, valued at $11,177,661.20. This trade represents a 4.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jay Sharp sold 4,871 shares of the business’s stock in a transaction on 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 owned 73,456 shares in the company, valued at approximately $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,394 shares of company stock worth $1,795,746 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

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.