Limbach Holdings, Inc. (NASDAQ:LMB) Position Lifted by Comerica Bank

Comerica Bank raised its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 727.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 695 shares of the construction company’s stock after acquiring an additional 611 shares during the quarter. Comerica Bank’s holdings in Limbach were worth $59,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Moody Aldrich Partners LLC acquired a new position in shares of Limbach in the 4th quarter valued at about $4,430,000. US Bancorp DE bought a new stake in shares of Limbach during the 4th quarter worth about $115,000. JPMorgan Chase & Co. raised its position in shares of Limbach by 15.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,194 shares of the construction company’s stock worth $393,000 after buying an additional 699 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Limbach by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 85,086 shares of the construction company’s stock worth $7,278,000 after buying an additional 1,141 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Limbach by 1.8% during the 4th quarter. Rhumbline Advisers now owns 14,065 shares of the construction company’s stock worth $1,203,000 after buying an additional 255 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LMB shares. Roth Capital reiterated a “buy” rating on shares of Limbach in a report on Wednesday, May 7th. Stifel Nicolaus set a $103.00 price objective on shares of Limbach in a research report on Wednesday, March 12th. Finally, Lake Street Capital boosted their target price on shares of Limbach from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.67.

Insider Activity

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the sale, the director now directly owns 164,600 shares in the company, valued at approximately $12,415,778. This trade represents a 13.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.70% of the company’s stock.

Limbach Trading Up 2.1%

Shares of LMB stock opened at $125.15 on Monday. Limbach Holdings, Inc. has a 52-week low of $47.42 and a 52-week high of $128.17. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 56.89, a P/E/G ratio of 2.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a fifty day moving average of $89.27 and a 200-day moving average of $90.76.

Limbach (NASDAQ:LMB) last posted its earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.82. The business had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. On average, equities research analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share 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.