Victory Capital Management Inc. Sells 21,495 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Victory Capital Management Inc. decreased its position in Limbach Holdings, Inc. (NASDAQ:LMB) by 65.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,390 shares of the construction company’s stock after selling 21,495 shares during the quarter. Victory Capital Management Inc. owned 0.10% of Limbach worth $848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of LMB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Limbach by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,818 shares of the construction company’s stock valued at $498,000 after purchasing an additional 231 shares in the last quarter. Brendel Financial Advisors LLC grew its stake in shares of Limbach by 8.9% in the 1st quarter. Brendel Financial Advisors LLC now owns 3,120 shares of the construction company’s stock worth $232,000 after buying an additional 256 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Limbach by 592.6% in the 1st quarter. Versant Capital Management Inc now owns 374 shares of the construction company’s stock worth $28,000 after buying an additional 320 shares during the last quarter. Legacy Advisors LLC bought a new stake in shares of Limbach in the 1st quarter worth about $30,000. Finally, Rhumbline Advisers raised its position in shares of Limbach by 3.1% during the 1st quarter. Rhumbline Advisers now owns 14,498 shares of the construction company’s stock valued at $1,080,000 after buying an additional 433 shares in the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Stock Performance

LMB stock opened at $137.00 on Friday. Limbach Holdings, Inc. has a twelve month low of $48.17 and a twelve month high of $154.05. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 49.10, a PEG ratio of 2.62 and a beta of 1.19. The business’s fifty day simple moving average is $137.49 and its two-hundred day simple moving average is $106.97. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.15.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results 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 company had revenue of $133.11 million for the quarter, compared to the consensus estimate of $121.06 million. Limbach had a net margin of 6.29% and a return on equity of 27.66%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. Analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Limbach

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction on Friday, June 13th. The stock was sold at an average price of $137.49, for a total transaction of $274,980.00. Following the completion of the sale, the insider directly owned 69,877 shares of the company’s stock, valued at $9,607,388.73. The trade was a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on LMB shares. Wall Street Zen upgraded Limbach from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 26th. Stifel Nicolaus lifted their target price on Limbach from $151.00 to $163.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Lake Street Capital increased their price target on Limbach from $125.00 to $156.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Finally, Roth Capital restated a “buy” rating on shares of Limbach in a research report on Wednesday, May 7th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $133.00.

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.