Next Century Growth Investors LLC Decreases Position in Limbach Holdings, Inc. $LMB

Next Century Growth Investors LLC decreased its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 75.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,381 shares of the construction company’s stock after selling 117,020 shares during the quarter. Next Century Growth Investors LLC’s holdings in Limbach were worth $2,988,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its stake in Limbach by 37.8% during the fourth quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock worth $77,647,000 after purchasing an additional 273,818 shares during the last quarter. Thrivent Financial for Lutherans lifted 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 worth $61,550,000 after purchasing an additional 55,511 shares during the last quarter. Capital International Investors lifted its stake in Limbach by 10.7% during the third quarter. Capital International Investors now owns 645,288 shares of the construction company’s stock worth $62,670,000 after purchasing an additional 62,483 shares during the last quarter. First Trust Advisors LP lifted its stake in Limbach by 36.0% in the fourth quarter. First Trust Advisors LP now owns 442,173 shares of the construction company’s stock valued at $34,423,000 after buying an additional 117,035 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Limbach by 2,041.6% in the second quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock valued at $56,124,000 after buying an additional 381,897 shares during the last quarter. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Insider Activity at Limbach

In other news, CFO Jayme L. Brooks sold 3,440 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $100.00, for a total transaction of $344,000.00. Following the completion of the sale, the chief financial officer owned 125,227 shares in the company, valued at $12,522,700. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 25,433 shares of company stock worth $2,185,473 in the last three months. 7.00% of the stock is owned by corporate insiders.

Limbach Price Performance

Shares of NASDAQ LMB opened at $79.09 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26. Limbach Holdings, Inc. has a twelve month low of $65.08 and a twelve month high of $154.05. The stock has a 50 day moving average of $82.88 and a two-hundred day moving average of $82.11. The stock has a market cap of $942.75 million, a P/E ratio of 28.76 and a beta of 1.42.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.21 by $0.43. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The business had revenue of $138.86 million during the quarter, compared to analysts’ expectations of $134.23 million. During the same quarter in the prior year, the business earned $1.12 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts forecast that Limbach Holdings, Inc. will post 4.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen cut Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. reduced their price objective on Limbach from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Finally, Weiss Ratings cut Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Limbach has an average rating of “Hold” and an average price target of $116.67.

Limbach 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.