State Street Corp Boosts Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

State Street Corp increased its holdings in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 11.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 219,120 shares of the construction company's stock after purchasing an additional 21,951 shares during the quarter. State Street Corp owned 1.94% of Limbach worth $16,601,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of Limbach by 6.4% during the 2nd quarter. Renaissance Technologies LLC now owns 394,871 shares of the construction company's stock worth $22,480,000 after buying an additional 23,700 shares during the last quarter. Wasatch Advisors LP raised its position in Limbach by 6.7% in the third quarter. Wasatch Advisors LP now owns 372,836 shares of the construction company's stock valued at $28,246,000 after purchasing an additional 23,360 shares during the period. Corsair Capital Management L.P. lifted its stake in shares of Limbach by 1.3% in the 3rd quarter. Corsair Capital Management L.P. now owns 313,360 shares of the construction company's stock valued at $23,740,000 after purchasing an additional 3,988 shares during the last quarter. Royce & Associates LP increased its position in shares of Limbach by 35.3% during the 3rd quarter. Royce & Associates LP now owns 249,578 shares of the construction company's stock worth $18,908,000 after purchasing an additional 65,082 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Limbach by 6.0% in the second quarter. American Century Companies Inc. now owns 208,223 shares of the construction company's stock valued at $11,854,000 after buying an additional 11,782 shares during the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Limbach

In related news, Director David Richard Gaboury acquired 531 shares of Limbach stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average cost of $94.51 per share, for a total transaction of $50,184.81. Following the completion of the transaction, the director now directly owns 2,071 shares of the company's stock, valued at $195,730.21. The trade was a 34.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 10.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

LMB has been the topic of a number of recent research reports. Roth Mkm boosted their price target on shares of Limbach from $67.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. StockNews.com cut Limbach from a "buy" rating to a "hold" rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus boosted their target price on Limbach from $108.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th.

Limbach Stock Performance

NASDAQ:LMB traded up $0.45 during mid-day trading on Wednesday, reaching $88.01. 49,855 shares of the stock were exchanged, compared to its average volume of 158,245. The company has a 50 day simple moving average of $90.54 and a 200-day simple moving average of $73.51. Limbach Holdings, Inc. has a 1 year low of $35.24 and a 1 year high of $107.00. The stock has a market capitalization of $991.87 million, a P/E ratio of 40.00, a P/E/G ratio of 3.10 and a beta of 1.09. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14.

Limbach (NASDAQ:LMB - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. The business had revenue of $133.90 million during the quarter, compared to analysts' expectations of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. Analysts anticipate 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.