Wasatch Advisors LP Purchases 23,360 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Wasatch Advisors LP lifted its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 372,836 shares of the construction company's stock after purchasing an additional 23,360 shares during the quarter. Wasatch Advisors LP owned 3.31% of Limbach worth $28,246,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LMB. American Capital Advisory LLC purchased a new stake in shares of Limbach in the third quarter worth $25,000. nVerses Capital LLC purchased a new stake in shares of Limbach during the 3rd quarter valued at $53,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Limbach by 6.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company's stock worth $207,000 after acquiring an additional 162 shares during the last quarter. Quest Partners LLC purchased a new position in Limbach in the third quarter worth $207,000. Finally, The Manufacturers Life Insurance Company bought a new position in Limbach in the second quarter valued at $223,000. Hedge funds and other institutional investors own 55.85% of the company's stock.

Limbach Stock Up 0.7 %

LMB traded up $0.73 on Friday, hitting $99.49. The company had a trading volume of 49,013 shares, compared to its average volume of 139,207. The stock has a fifty day simple moving average of $84.83 and a 200-day simple moving average of $68.70. Limbach Holdings, Inc. has a 52-week low of $35.24 and a 52-week high of $104.98. 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 $1.12 billion, a P/E ratio of 45.22, a P/E/G ratio of 3.27 and a beta of 0.97.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LMB. Roth Mkm increased their price target on shares of Limbach from $67.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, November 4th. StockNews.com cut shares of Limbach from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus initiated coverage on shares of Limbach in a research report on Friday, November 15th. They set a "buy" rating and a $108.00 price target for the company.

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 5,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $64.02, for a total value 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 represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 10.20% of the company's stock.

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.