Castleark Management LLC Makes New $2.96 Million Investment in Limbach Holdings, Inc. $LMB

Castleark Management LLC purchased a new stake in Limbach Holdings, Inc. (NASDAQ:LMB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 21,140 shares of the construction company’s stock, valued at approximately $2,962,000. Castleark Management LLC owned approximately 0.18% of Limbach as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in LMB. Invesco Ltd. grew its holdings in shares of Limbach by 2,041.6% during the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock worth $56,124,000 after buying an additional 381,897 shares in the last quarter. First Trust Advisors LP increased its position in shares of Limbach by 1,192.1% during the 2nd quarter. First Trust Advisors LP now owns 411,180 shares of the construction company’s stock worth $57,606,000 after purchasing an additional 379,357 shares during the last quarter. Wasatch Advisors LP raised its position in Limbach by 59.2% during the second quarter. Wasatch Advisors LP now owns 638,879 shares of the construction company’s stock worth $89,507,000 after acquiring an additional 237,475 shares in the last quarter. Northern Trust Corp grew its holdings in Limbach by 81.7% during the first quarter. Northern Trust Corp now owns 166,716 shares of the construction company’s stock worth $12,415,000 after purchasing an additional 74,986 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in shares of Limbach during the 1st quarter worth approximately $4,965,000. 55.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on LMB. Wall Street Zen lowered shares of Limbach from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Limbach in a report on Wednesday. Zacks Research cut shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Finally, Stifel Nicolaus dropped their target price on shares of Limbach from $146.00 to $132.00 and set a “buy” rating for the company in a report on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $144.00.

Limbach Stock Performance

Shares of Limbach stock opened at $75.95 on Monday. The company has a market cap of $883.30 million, a P/E ratio of 24.98 and a beta of 1.26. The business has a 50-day moving average price of $82.39 and a two-hundred day moving average price of $109.18. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. Limbach Holdings, Inc. has a 1-year low of $63.02 and a 1-year high of $154.05.

Limbach (NASDAQ:LMB) last issued its quarterly earnings results on Tuesday, November 4th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.04). Limbach had a net margin of 6.06% and a return on equity of 30.80%. The business had revenue of $184.58 million during the quarter, compared to analyst estimates of $184.48 million. During the same period last year, the firm posted $0.62 earnings per share. Limbach’s quarterly revenue was up 37.8% compared to the same quarter last year. As a group, analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

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.