Bessemer Group Inc. Purchases 11,196 Shares of Limbach Holdings, Inc. $LMB

Bessemer Group Inc. grew its holdings in Limbach Holdings, Inc. (NASDAQ:LMB) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174,658 shares of the construction company’s stock after acquiring an additional 11,196 shares during the quarter. Bessemer Group Inc. owned 1.47% of Limbach worth $13,632,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of LMB. Caitong International Asset Management Co. Ltd boosted its holdings in Limbach by 23.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock valued at $53,000 after purchasing an additional 130 shares during the period. Comerica Bank increased its holdings in shares of Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after purchasing an additional 167 shares during the period. Caxton Associates LLP raised its position in shares of Limbach by 4.9% in the third quarter. Caxton Associates LLP now owns 3,624 shares of the construction company’s stock valued at $352,000 after buying an additional 168 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Limbach by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,835 shares of the construction company’s stock valued at $537,000 after buying an additional 204 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Limbach by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company’s stock valued at $451,000 after buying an additional 241 shares in the last quarter. 55.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LMB has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Weiss Ratings cut Limbach from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Finally, Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $97.00.

Limbach Stock Performance

Shares of NASDAQ:LMB opened at $72.75 on Friday. Limbach Holdings, Inc. has a 1 year low of $65.08 and a 1 year high of $142.49. The stock has a market capitalization of $867.18 million, a price-to-earnings ratio of 26.45 and a beta of 1.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71. The company’s 50 day simple moving average is $77.61 and its 200 day simple moving average is $82.50.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.43. The firm had revenue of $138.86 million during the quarter, compared to analysts’ expectations of $134.23 million. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.12 earnings per share. As a group, research analysts predict that Limbach Holdings, Inc. will post 4.98 EPS for the current fiscal year.

Insider Buying and Selling at Limbach

In related news, CFO Jayme L. Brooks sold 3,440 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $100.00, for a total transaction of $344,000.00. Following the completion of the sale, the chief financial officer directly owned 125,227 shares in the company, valued at $12,522,700. This represents a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.82, for a total value of $388,803.22. Following the completion of the sale, the executive vice president directly owned 73,456 shares in the company, valued at $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 10,484 shares of company stock valued at $950,212. 7.00% of the stock is owned by corporate insiders.

About Limbach

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.