Raymond James & Associates Cuts Stock Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Raymond James & Associates cut its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 32.5% in the 4th quarter, HoldingsChannel reports. The firm owned 5,926 shares of the construction company’s stock after selling 2,857 shares during the quarter. Raymond James & Associates’ holdings in Limbach were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in Limbach in the third quarter valued at approximately $143,000. Lazard Asset Management LLC raised its stake in shares of Limbach by 126.8% in the third quarter. Lazard Asset Management LLC now owns 9,812 shares of the construction company’s stock valued at $311,000 after buying an additional 5,485 shares during the period. Trexquant Investment LP purchased a new position in shares of Limbach during the 3rd quarter valued at $1,229,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Limbach during the 3rd quarter worth $206,000. Finally, Acadian Asset Management LLC increased its holdings in Limbach by 39.1% in the 3rd quarter. Acadian Asset Management LLC now owns 316,871 shares of the construction company’s stock worth $10,049,000 after acquiring an additional 89,068 shares during the last quarter. 55.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 13th.

Limbach Trading Up 3.9 %

Shares of LMB stock opened at $46.19 on Tuesday. The stock has a market capitalization of $520.47 million, a price-to-earnings ratio of 25.95, a PEG ratio of 1.97 and a beta of 1.02. The company’s fifty day simple moving average is $43.63 and its two-hundred day simple moving average is $40.62. Limbach Holdings, Inc. has a 1 year low of $16.11 and a 1 year high of $52.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.50 and a quick ratio of 1.50.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Wednesday, March 13th. The construction company reported $0.44 earnings per share (EPS) for the quarter. Limbach had a return on equity of 18.87% and a net margin of 4.02%. The company had revenue of $142.69 million for the quarter, compared to analyst estimates of $131.25 million. As a group, analysts anticipate that Limbach Holdings, Inc. will post 1.88 earnings per share for the current 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.