Northern Trust Corp Raises Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Northern Trust Corp raised its holdings in Limbach Holdings, Inc. (NASDAQ:LMB) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,730 shares of the construction company’s stock after buying an additional 6,905 shares during the period. Northern Trust Corp owned approximately 0.81% of Limbach worth $7,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. IFP Advisors Inc acquired a new stake in shares of Limbach in the 4th quarter valued at $37,000. US Bancorp DE acquired a new stake in shares of Limbach in the 4th quarter valued at $115,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Limbach in the 4th quarter valued at $154,000. Bailard Inc. acquired a new stake in shares of Limbach in the 4th quarter valued at $257,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of Limbach by 5.2% in the 4th quarter. Teacher Retirement System of Texas now owns 3,453 shares of the construction company’s stock valued at $295,000 after purchasing an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Insider Transactions at Limbach

In other news, Director Joshua Horowitz sold 25,400 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 164,600 shares in the company, valued at approximately $12,415,778. This represents a 13.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.70% of the company’s stock.

Wall Street Analysts Forecast Growth

LMB has been the topic of several research analyst reports. Stifel Nicolaus set a $103.00 price target on shares of Limbach in a research note on Wednesday, March 12th. Roth Capital reiterated a “buy” rating on shares of Limbach in a research note on Wednesday, May 7th. Finally, Lake Street Capital lifted their price target on shares of Limbach from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Limbach has a consensus rating of “Moderate Buy” and a consensus target price of $102.67.

Limbach Price Performance

Shares of NASDAQ:LMB opened at $125.15 on Monday. The company’s fifty day moving average price is $89.27 and its 200 day moving average price is $90.76. Limbach Holdings, Inc. has a 12 month low of $47.42 and a 12 month high of $128.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $1.45 billion, a P/E ratio of 56.89, a P/E/G ratio of 2.22 and a beta of 1.08.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.82. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The company had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. During the same period in the previous year, the business posted $0.69 earnings per share. Limbach’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict 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.