Bessemer Group Inc. Has $13.63 Million Stock Position in Limbach Holdings, Inc. $LMB

Bessemer Group Inc. grew its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 6.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 174,658 shares of the construction company’s stock after acquiring an additional 11,196 shares during the period. Bessemer Group Inc.’s holdings in Limbach were worth $13,632,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of Limbach by 23.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock valued at $53,000 after acquiring an additional 130 shares during the last quarter. Comerica Bank grew its position in Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after acquiring an additional 167 shares during the last quarter. Fifth Third Bancorp acquired a new position in Limbach in the 1st quarter worth about $85,000. Royal Bank of Canada increased its holdings in Limbach by 34.5% in the 4th quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock worth $113,000 after purchasing an additional 371 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Limbach in the fourth quarter valued at about $150,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LMB has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. Weiss Ratings downgraded Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered shares of Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $97.00.

Insider Transactions at Limbach

In related news, CFO Jayme L. Brooks sold 3,440 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $100.00, for a total value of $344,000.00. Following the sale, the chief financial officer directly owned 125,227 shares in the company, valued at $12,522,700. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 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 sale, the executive vice president directly owned 73,456 shares of the company’s stock, valued at $5,863,257.92. This represents a 6.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,484 shares of company stock valued at $950,212 over the last 90 days. 7.00% of the stock is owned by corporate insiders.

Limbach Stock Performance

NASDAQ LMB opened at $72.75 on Friday. The company has a market capitalization of $867.18 million, a price-to-earnings ratio of 26.45 and a beta of 1.43. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.26. Limbach Holdings, Inc. has a twelve month low of $65.08 and a twelve month high of $142.49. The stock has a fifty day simple moving average of $77.61 and a 200 day simple moving average of $82.50.

Limbach (NASDAQ:LMB) last announced its earnings results on Tuesday, May 5th. The construction company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.21 by $0.43. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The firm had revenue of $138.86 million for the quarter, compared to the consensus estimate of $134.23 million. During the same period in the previous year, the business earned $1.12 EPS. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts expect that Limbach Holdings, Inc. will post 4.98 EPS for the current year.

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.