Teacher Retirement System of Texas Buys 8,955 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Teacher Retirement System of Texas boosted its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 259.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,408 shares of the construction company’s stock after buying an additional 8,955 shares during the period. Teacher Retirement System of Texas owned approximately 0.11% of Limbach worth $924,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LMB. Bessemer Group Inc. purchased a new stake in shares of Limbach in the 1st quarter worth approximately $11,705,000. Next Century Growth Investors LLC bought a new position in shares of Limbach during the 4th quarter valued at $13,374,000. First Trust Advisors LP lifted its holdings in shares of Limbach by 67.5% during the 4th quarter. First Trust Advisors LP now owns 322,396 shares of the construction company’s stock valued at $27,578,000 after buying an additional 129,869 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Limbach by 41.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 216,567 shares of the construction company’s stock valued at $18,525,000 after buying an additional 62,987 shares during the period. Finally, Silvercrest Asset Management Group LLC bought a new position in Limbach in the 4th quarter worth $5,041,000. Institutional investors own 55.85% of the company’s stock.

Insider Buying and Selling at Limbach

In other news, insider Jay Sharp sold 2,000 shares of the firm’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $137.49, for a total value of $274,980.00. Following the sale, the insider directly owned 69,877 shares in the company, valued at approximately $9,607,388.73. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.20% of the company’s stock.

Limbach Stock Performance

Limbach stock opened at $149.53 on Tuesday. The firm has a 50 day simple moving average of $133.72 and a 200-day simple moving average of $102.96. Limbach Holdings, Inc. has a 1-year low of $48.17 and a 1-year high of $154.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 53.60, a price-to-earnings-growth ratio of 2.84 and a beta of 1.19.

Limbach (NASDAQ:LMB) last issued its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.30 by $0.82. The firm had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. Limbach had a net margin of 6.29% and a return on equity of 27.66%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 EPS. On average, analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on LMB shares. Lake Street Capital lifted their price target on Limbach from $125.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Stifel Nicolaus lifted their price target on shares of Limbach from $151.00 to $163.00 and gave the company a “buy” rating in a research note on Friday. Finally, Roth Capital reissued a “buy” rating on shares of Limbach in a report on Wednesday, May 7th. One investment 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 target price of $133.00.

Limbach Profile

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.