Renaissance Technologies LLC Acquires 23,700 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

Renaissance Technologies LLC grew its holdings in Limbach Holdings, Inc. (NASDAQ:LMB) by 6.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 394,871 shares of the construction company’s stock after acquiring an additional 23,700 shares during the period. Renaissance Technologies LLC owned 3.53% of Limbach worth $22,480,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Brendel Financial Advisors LLC bought a new stake in Limbach in the second quarter worth approximately $231,000. Meeder Asset Management Inc. grew its position 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 acquiring an additional 292 shares in the last quarter. Virtu Financial LLC bought a new stake in Limbach in the fourth quarter worth approximately $235,000. PFG Advisors acquired a new stake in shares of Limbach in the first quarter worth $253,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 worth $257,000 after buying an additional 483 shares during the period. 55.85% of the stock is owned by institutional investors.

Limbach Price Performance

NASDAQ LMB opened at $80.02 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $63.32 and a 200 day simple moving average of $54.35. The company has a market cap of $894.86 million, a P/E ratio of 37.22, a P/E/G ratio of 2.35 and a beta of 0.95. Limbach Holdings, Inc. has a 1 year low of $26.76 and a 1 year high of $80.62.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.13. The business had revenue of $122.24 million during the quarter, compared to the consensus estimate of $123.50 million. Limbach had a net margin of 5.08% and a return on equity of 21.06%. During the same period in the prior year, the firm earned $0.46 EPS. On average, sell-side analysts predict that Limbach Holdings, Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling at Limbach

In other Limbach news, Director Joshua Horowitz sold 8,800 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $59.14, for a total value of $520,432.00. Following the completion of the sale, the director now directly owns 223,272 shares of the company’s stock, valued at approximately $13,204,306.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 40,072 shares of company stock valued at $2,418,821 in the last ninety days. Company insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th.

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.