Bank of New York Mellon Corp Reduces Stake in Limbach Holdings, Inc. (NASDAQ:LMB)

Bank of New York Mellon Corp cut its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,199 shares of the construction company’s stock after selling 1,219 shares during the period. Bank of New York Mellon Corp owned about 0.23% of Limbach worth $2,241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LMB. IFP Advisors Inc purchased a new position in Limbach during the fourth quarter valued at $37,000. Quest Partners LLC purchased a new position in shares of Limbach in the third quarter valued at about $207,000. Sanctuary Advisors LLC purchased a new position in shares of Limbach in the third quarter valued at about $262,000. Janus Henderson Group PLC purchased a new position in shares of Limbach in the third quarter valued at about $333,000. Finally, XTX Topco Ltd purchased a new position in shares of Limbach in the third quarter valued at about $359,000. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $75.43, for a total transaction of $1,915,922.00. Following the completion of the transaction, the director now owns 164,600 shares in the company, valued at $12,415,778. The trade was a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Stifel Nicolaus set a $103.00 price objective on Limbach in a research report on Wednesday, March 12th. Lake Street Capital boosted their price objective on Limbach from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th.

Limbach Trading Up 1.1 %

Shares of LMB stock opened at $82.85 on Friday. Limbach Holdings, Inc. has a 12-month low of $38.03 and a 12-month high of $107.00. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is $87.64 and its 200-day moving average price is $85.96. The stock has a market capitalization of $940.60 million, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 2.22 and a beta of 1.18.

Limbach (NASDAQ:LMB) last issued its earnings results on Monday, March 10th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.31. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The firm had revenue of $143.70 million for the quarter, compared to analysts’ expectations of $149.37 million. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. Equities research analysts predict that Limbach Holdings, Inc. will post 2.54 EPS 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.