Sanctuary Advisors LLC Makes New Investment in Limbach Holdings, Inc. (NASDAQ:LMB)

Sanctuary Advisors LLC acquired a new stake in Limbach Holdings, Inc. (NASDAQ:LMB) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,456 shares of the construction company’s stock, valued at approximately $262,000.

A number of other hedge funds also recently modified their holdings of LMB. Renaissance Technologies LLC lifted its holdings in 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 purchasing an additional 23,700 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Limbach by 6.7% during the third quarter. Wasatch Advisors LP now owns 372,836 shares of the construction company’s stock worth $28,246,000 after buying an additional 23,360 shares in the last quarter. Corsair Capital Management L.P. boosted its position in shares of Limbach by 1.3% in the third quarter. Corsair Capital Management L.P. now owns 313,360 shares of the construction company’s stock valued at $23,740,000 after acquiring an additional 3,988 shares during the period. Royce & Associates LP grew its stake in shares of Limbach by 35.3% in the third quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock valued at $18,908,000 after acquiring an additional 65,082 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Limbach by 2.2% during the third quarter. Geode Capital Management LLC now owns 238,445 shares of the construction company’s stock worth $18,068,000 after acquiring an additional 5,093 shares during the period. Institutional investors and hedge funds own 55.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LMB shares. Stifel Nicolaus increased their target price on shares of Limbach from $108.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Roth Mkm raised their price objective on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Insider Buying and Selling

In related news, Director David Richard Gaboury bought 531 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were purchased at an average price of $94.51 per share, with a total value of $50,184.81. Following the completion of the purchase, the director now owns 2,071 shares in the company, valued at $195,730.21. This represents a 34.48 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 10.20% of the stock is owned by corporate insiders.

Limbach Price Performance

LMB stock opened at $85.90 on Friday. The company’s 50-day moving average price is $90.86 and its two-hundred day moving average price is $73.91. The firm has a market cap of $968.35 million, a P/E ratio of 39.05, 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 Holdings, Inc. has a 12 month low of $35.24 and a 12 month high of $107.00.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share (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 business had revenue of $133.90 million for the quarter, compared to analysts’ expectations of $129.50 million. During the same period last year, the firm posted $0.61 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, 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.