Victory Capital Management Inc. Sells 22,029 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Victory Capital Management Inc. reduced its position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 40.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,885 shares of the construction company's stock after selling 22,029 shares during the quarter. Victory Capital Management Inc. owned approximately 0.29% of Limbach worth $2,813,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of LMB. IFP Advisors Inc bought a new stake in Limbach in the fourth quarter worth approximately $37,000. US Bancorp DE acquired a new stake in shares of Limbach during the 4th quarter worth approximately $115,000. Quest Partners LLC bought a new stake in shares of Limbach in the 3rd quarter valued at $207,000. Bailard Inc. acquired a new position in shares of Limbach during the 4th quarter valued at $257,000. Finally, Sanctuary Advisors LLC bought a new position in Limbach during the third quarter worth $262,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Joshua Horowitz sold 25,400 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the transaction, the director now directly owns 164,600 shares in the company, valued at approximately $12,415,778. The trade was a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.20% of the stock is currently owned by corporate insiders.

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Limbach Stock Up 2.5 %

Shares of Limbach stock traded up $1.96 during trading hours on Thursday, reaching $81.69. The company's stock had a trading volume of 184,011 shares, compared to its average volume of 156,747. The company has a market capitalization of $927.43 million, a P/E ratio of 37.02, a P/E/G ratio of 2.22 and a beta of 1.18. The stock's fifty day simple moving average is $88.21 and its two-hundred day simple moving average is $85.86. Limbach Holdings, Inc. has a one year low of $38.03 and a one year high of $107.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57.

Limbach (NASDAQ:LMB - Get Free Report) last released its quarterly 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 business had revenue of $143.70 million during the quarter, compared to the consensus estimate of $149.37 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The company's quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. On average, research analysts forecast that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

LMB has been the topic of several research reports. Stifel Nicolaus set a $103.00 price objective on shares of Limbach in a report on Wednesday, March 12th. Lake Street Capital boosted their target price on Limbach from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th.

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.