Kerrisdale Advisers LLC Makes New $1.58 Million Investment in Limbach Holdings, Inc. $LMB

Kerrisdale Advisers LLC bought a new stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,510 shares of the construction company’s stock, valued at approximately $1,579,000.

Other hedge funds have also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in Limbach by 7.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 790,632 shares of the construction company’s stock valued at $61,550,000 after buying an additional 55,511 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Limbach by 83.7% during the fourth quarter. Royce & Associates LP now owns 335,663 shares of the construction company’s stock valued at $26,131,000 after acquiring an additional 152,956 shares in the last quarter. Granite Investment Partners LLC raised its position in shares of Limbach by 20.3% in the 1st quarter. Granite Investment Partners LLC now owns 110,269 shares of the construction company’s stock worth $8,606,000 after purchasing an additional 18,572 shares during the last quarter. UBS Group AG boosted its stake in Limbach by 23.7% in the 4th quarter. UBS Group AG now owns 60,874 shares of the construction company’s stock worth $4,739,000 after purchasing an additional 11,644 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC grew its position in Limbach by 151.5% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 318,238 shares of the construction company’s stock valued at $24,775,000 after purchasing an additional 191,685 shares during the last quarter. 55.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LMB shares. Zacks Research downgraded shares of Limbach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Wall Street Zen cut Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. lowered Limbach from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $60.00 to $50.00 in a report on Friday, August 21st. Royal Bank Of Canada set a $50.00 price target on Limbach in a research note on Friday, August 21st. Finally, Stifel Nicolaus lowered their price target on Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Limbach currently has an average rating of “Reduce” and a consensus target price of $62.00.

Limbach Stock Performance

Shares of LMB opened at $41.34 on Monday. The firm has a market capitalization of $493.19 million, a P/E ratio of 16.54 and a beta of 1.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.49 and a quick ratio of 1.49. Limbach Holdings, Inc. has a one year low of $41.17 and a one year high of $123.00. The business has a fifty day moving average of $64.64 and a 200 day moving average of $76.87.

Limbach (NASDAQ:LMB) last announced its earnings results on Tuesday, August 4th. The construction company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.29). Limbach had a return on equity of 23.22% and a net margin of 4.42%.The firm had revenue of $173.46 million during the quarter, compared to analysts’ expectations of $177.33 million. As a group, sell-side analysts anticipate that Limbach Holdings, Inc. will post 4.17 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Jay Sharp sold 4,871 shares of Limbach stock in a transaction on Monday, June 15th. The shares were sold at an average price of $79.82, for a total transaction of $388,803.22. Following the transaction, the executive vice president owned 73,456 shares in the company, valued at $5,863,257.92. This trade represents a 6.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.00% of the company’s stock.

Limbach Company Profile

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.