Public Employees Retirement System of Ohio Acquires Shares of 18,502 Limbach Holdings, Inc. $LMB

Public Employees Retirement System of Ohio bought a new position in shares of Limbach Holdings, Inc. (NASDAQ:LMB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,502 shares of the construction company’s stock, valued at approximately $2,592,000. Public Employees Retirement System of Ohio owned approximately 0.16% of Limbach at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LMB. Bessemer Group Inc. purchased a new position in shares of Limbach during the 1st quarter worth approximately $11,705,000. Lord Abbett & CO. LLC purchased a new position in shares of Limbach during the 1st quarter worth approximately $9,693,000. Northern Trust Corp raised its stake in shares of Limbach by 81.7% during the 1st quarter. Northern Trust Corp now owns 166,716 shares of the construction company’s stock worth $12,415,000 after buying an additional 74,986 shares in the last quarter. CenterBook Partners LP purchased a new position in shares of Limbach during the 1st quarter worth approximately $5,180,000. Finally, Driehaus Capital Management LLC purchased a new position in shares of Limbach during the 1st quarter worth approximately $4,965,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Trading Down 7.9%

Shares of LMB opened at $89.42 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.04 billion, a P/E ratio of 30.52 and a beta of 1.42. The stock’s fifty day simple moving average is $113.04 and its 200 day simple moving average is $113.57. Limbach Holdings, Inc. has a twelve month low of $63.02 and a twelve month high of $154.05.

Limbach (NASDAQ:LMB) last issued its earnings results on Tuesday, August 5th. The construction company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.12. The business had revenue of $142.24 million for the quarter, compared to analyst estimates of $144.21 million. Limbach had a return on equity of 29.38% and a net margin of 6.38%.The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the company posted $0.73 EPS. Limbach has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Limbach from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 5th. Stifel Nicolaus set a $146.00 price target on Limbach in a report on Wednesday, August 6th. Finally, Lake Street Capital upped their price target on Limbach from $125.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $127.33.

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.