Raymond James Financial Inc. Purchases New Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Raymond James Financial Inc. purchased a new stake in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 26,066 shares of the construction company's stock, valued at approximately $2,230,000. Raymond James Financial Inc. owned 0.23% of Limbach at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LMB. Charles Schwab Investment Management Inc. lifted its holdings in Limbach by 186.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 83,945 shares of the construction company's stock valued at $6,360,000 after acquiring an additional 54,599 shares during the last quarter. FMR LLC lifted its stake in shares of Limbach by 21.7% in the 3rd quarter. FMR LLC now owns 40,543 shares of the construction company's stock valued at $3,072,000 after purchasing an additional 7,239 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Limbach by 40.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,276 shares of the construction company's stock valued at $400,000 after purchasing an additional 1,521 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Limbach during the 3rd quarter worth $643,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Limbach during the 3rd quarter worth about $11,635,000. Institutional investors and hedge funds own 55.85% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 25,400 shares of Limbach stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $75.43, for a total value of $1,915,922.00. Following the completion of the transaction, the director now owns 164,600 shares in the company, valued at approximately $12,415,778. This trade represents a 13.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 10.20% of the stock is currently owned by corporate insiders.

Limbach Trading Down 4.3 %

Shares of LMB stock traded down $3.27 on Thursday, hitting $73.18. The stock had a trading volume of 203,458 shares, compared to its average volume of 164,227. The company's 50 day moving average price is $84.06 and its 200-day moving average price is $86.74. Limbach Holdings, Inc. has a 1 year low of $38.03 and a 1 year high of $107.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $830.81 million, a P/E ratio of 33.26, a P/E/G ratio of 2.22 and a beta of 1.01.

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

Limbach Company 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.