Raymond James Financial Inc. Makes New $2.23 Million Investment in Limbach Holdings, Inc. (NASDAQ:LMB)

Raymond James Financial Inc. purchased a new stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 26,066 shares of the construction company’s stock, valued at approximately $2,230,000. Raymond James Financial Inc. owned about 0.23% of Limbach as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LMB. IFP Advisors Inc purchased a new stake in Limbach during the fourth quarter valued at $37,000. US Bancorp DE bought a new stake in shares of Limbach during the 4th quarter valued at about $115,000. Bailard Inc. purchased a new stake in shares of Limbach during the 4th quarter valued at about $257,000. Sanctuary Advisors LLC purchased a new stake in shares of Limbach during the 3rd quarter valued at about $262,000. Finally, Janus Henderson Group PLC bought a new position in shares of Limbach in the 3rd quarter worth approximately $333,000. 55.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Lake Street Capital upped their target price on shares of Limbach from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus set a $103.00 price objective on shares of Limbach in a research report on Wednesday, March 12th.

Limbach Trading Down 3.0 %

Shares of NASDAQ:LMB opened at $76.26 on Monday. The stock has a 50 day moving average of $86.13 and a 200 day moving average of $86.86. The company has a market cap of $865.78 million, a PE ratio of 34.66, a price-to-earnings-growth ratio of 2.22 and a beta of 1.18. 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.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results on Monday, March 10th. The construction company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31. The business had revenue of $143.70 million during the quarter, compared to analyst estimates of $149.37 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, equities research analysts expect that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 25,400 shares of the 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 completion of the transaction, the director now owns 164,600 shares of the company’s stock, valued at $12,415,778. This represents a 13.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.20% of the stock is currently owned by company insiders.

Limbach Company 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.