Bank of America Corp DE Has $693,000 Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Bank of America Corp DE lowered its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 73.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,105 shares of the construction company’s stock after selling 22,988 shares during the quarter. Bank of America Corp DE owned 0.07% of Limbach worth $693,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. US Bancorp DE acquired a new stake in shares of Limbach during the fourth quarter worth about $115,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Limbach by 1.4% during the fourth 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. Stifel Financial Corp bought a new position in shares of Limbach during the fourth quarter worth about $441,000. Comerica Bank grew its holdings in shares of Limbach by 727.4% during the fourth quarter. Comerica Bank now owns 695 shares of the construction company’s stock worth $59,000 after buying an additional 611 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Limbach by 1.8% during the fourth 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. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Stock Up 1.6%

NASDAQ:LMB opened at $137.46 on Tuesday. 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 stock has a 50-day simple moving average of $106.00 and a 200 day simple moving average of $95.11. The company has a market cap of $1.60 billion, a PE ratio of 62.48, a PEG ratio of 2.22 and a beta of 1.21. Limbach Holdings, Inc. has a 52-week low of $48.17 and a 52-week high of $138.03.

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

Insider Buying and Selling at Limbach

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Limbach from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Roth Capital reiterated a “buy” rating on shares of Limbach in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.33.

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.