Victory Capital Management Inc. Sells 10,065 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Victory Capital Management Inc. reduced its position in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 15.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,914 shares of the construction company's stock after selling 10,065 shares during the period. Victory Capital Management Inc. owned 0.49% of Limbach worth $4,160,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LMB. Harbor Capital Advisors Inc. increased its position in Limbach by 6.3% during the 3rd 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. SummerHaven Investment Management LLC raised its stake in Limbach by 0.9% in the second quarter. SummerHaven Investment Management LLC now owns 28,963 shares of the construction company's stock worth $1,649,000 after buying an additional 261 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Limbach by 7.7% in the second quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company's stock worth $232,000 after buying an additional 292 shares in the last quarter. American Capital Advisory LLC purchased a new stake in Limbach in the third quarter worth about $25,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Limbach by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,199 shares of the construction company's stock valued at $257,000 after acquiring an additional 483 shares in the last quarter. 55.85% of the stock is owned by institutional investors.

Limbach Stock Up 3.7 %

Shares of LMB stock traded up $3.64 during trading hours on Friday, hitting $102.64. 101,001 shares of the company's stock traded hands, compared to its average volume of 140,447. 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 stock's fifty day simple moving average is $82.35 and its two-hundred day simple moving average is $66.80. Limbach Holdings, Inc. has a 12-month low of $35.24 and a 12-month high of $103.20. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 46.65, a PEG ratio of 3.25 and a beta of 0.97.

Limbach (NASDAQ:LMB - Get Free Report) last released its 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. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The business had revenue of $133.90 million for the quarter, compared to the consensus estimate of $129.50 million. During the same period in the previous year, the company posted $0.61 earnings per share. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 5,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $64.02, for a total transaction of $320,100.00. Following the sale, the director now directly owns 190,000 shares in the company, valued at approximately $12,163,800. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LMB has been the subject of a number of research analyst reports. StockNews.com cut Limbach from a "buy" rating to a "hold" rating in a research note on Thursday, November 14th. Stifel Nicolaus began coverage on Limbach in a research report on Friday, November 15th. They set a "buy" rating and a $108.00 price objective for the company. Finally, Roth Mkm upped their target price on shares of Limbach from $67.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 4th.

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.