Limbach Holdings, Inc. (NASDAQ:LMB) Stock Position Trimmed by Navellier & Associates Inc.

Navellier & Associates Inc. lowered its holdings in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 49.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,715 shares of the construction company's stock after selling 9,554 shares during the period. Navellier & Associates Inc. owned approximately 0.09% of Limbach worth $736,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. American Capital Advisory LLC purchased a new position in Limbach in the 3rd quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in shares of Limbach during the third quarter worth $53,000. Harbor Capital Advisors Inc. boosted its stake in shares of Limbach by 6.3% in the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company's stock valued at $207,000 after purchasing an additional 162 shares during the period. Quest Partners LLC acquired a new stake in Limbach during the 3rd quarter valued at $207,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Limbach during the 2nd quarter worth $223,000. Hedge funds and other institutional investors own 55.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com downgraded Limbach from a "buy" rating to a "hold" rating in a research note on Thursday, November 14th. Stifel Nicolaus assumed coverage on Limbach in a report on Friday, November 15th. They issued a "buy" rating and a $108.00 price target for the company. Finally, Roth Mkm lifted their price objective on Limbach from $67.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 4th.

Insider Activity at Limbach

In related news, Director Joshua Horowitz sold 5,000 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $64.02, for a total transaction of $320,100.00. Following the completion of the sale, the director now owns 190,000 shares of the company's stock, valued at $12,163,800. This represents a 2.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.20% of the company's stock.

Limbach Stock Up 3.7 %

LMB stock traded up $3.64 during mid-day trading on Friday, hitting $102.64. 100,999 shares of the company were exchanged, compared to its average volume of 162,137. The company has a market capitalization of $1.16 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 3.27 and a beta of 0.97. The firm has a fifty day simple moving average of $81.74 and a 200 day simple moving average of $66.41. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. Limbach Holdings, Inc. has a twelve month low of $35.24 and a twelve month high of $103.20.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $133.90 million during the quarter, compared to analyst estimates of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. Limbach's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. On average, research analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal 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.