First Trust Advisors LP Has $27.58 Million Stock Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

First Trust Advisors LP increased its stake in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 67.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 322,396 shares of the construction company's stock after purchasing an additional 129,869 shares during the period. First Trust Advisors LP owned approximately 2.86% of Limbach worth $27,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LMB. Barclays PLC boosted its stake in Limbach by 385.4% in the 3rd quarter. Barclays PLC now owns 16,879 shares of the construction company's stock worth $1,278,000 after purchasing an additional 13,402 shares during the period. Geode Capital Management LLC lifted its position in Limbach by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 238,445 shares of the construction company's stock worth $18,068,000 after buying an additional 5,093 shares in the last quarter. Virtu Financial LLC bought a new stake in Limbach during the 3rd quarter worth about $487,000. Sanctuary Advisors LLC bought a new stake in Limbach during the 3rd quarter worth about $262,000. Finally, Tidal Investments LLC bought a new stake in Limbach during the 3rd quarter worth about $741,000. 55.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Joshua Horowitz sold 25,400 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $75.43, for a total value of $1,915,922.00. Following the transaction, the director now owns 164,600 shares in the company, valued at approximately $12,415,778. This represents a 13.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Lake Street Capital boosted their price target on shares of Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Stifel Nicolaus set a $103.00 price target on shares of Limbach in a research report on Wednesday, March 12th.

Limbach Stock Performance

Shares of LMB stock traded up $0.48 on Tuesday, reaching $92.53. The stock had a trading volume of 164,361 shares, compared to its average volume of 173,746. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The firm's 50-day moving average is $79.36 and its two-hundred day moving average is $87.53. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 42.06, a P/E/G ratio of 2.22 and a beta of 1.01. Limbach Holdings, Inc. has a 12 month low of $43.78 and a 12 month high of $107.00.

Limbach (NASDAQ:LMB - Get Free Report) last issued its earnings results on Monday, March 10th. The construction company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.31. The company had revenue of $143.70 million for the quarter, compared to analysts' expectations of $149.37 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. Limbach's quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, research analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

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.