Victory Capital Management Inc. Has $4.16 Million Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Victory Capital Management Inc. cut its stake in Limbach Holdings, Inc. (NASDAQ:LMB) by 15.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,914 shares of the construction company’s stock after selling 10,065 shares during the quarter. Victory Capital Management Inc. owned approximately 0.49% of Limbach worth $4,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. American Capital Advisory LLC acquired a new position in shares of Limbach during the 3rd quarter valued at about $25,000. nVerses Capital LLC bought a new stake in Limbach during the third quarter worth approximately $53,000. Harbor Capital Advisors Inc. grew its holdings in Limbach by 6.3% during the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock valued at $207,000 after purchasing an additional 162 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Limbach in the second quarter valued at approximately $223,000. Finally, Brendel Financial Advisors LLC acquired a new stake in shares of Limbach in the second quarter worth $231,000. 55.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Limbach

In other Limbach news, Director Joshua Horowitz sold 5,000 shares of Limbach stock in a transaction on Monday, September 9th. The stock was sold at an average price of $64.02, for a total value of $320,100.00. Following the completion of the transaction, the director now owns 190,000 shares in the company, valued at approximately $12,163,800. The trade was a 2.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Stifel Nicolaus assumed coverage on Limbach in a research report on Friday, November 15th. They issued a “buy” rating and a $108.00 price target on the stock. Finally, Roth Mkm boosted their price objective on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

Limbach Trading Up 3.7 %

Shares of LMB opened at $102.64 on Friday. The stock’s 50-day moving average price is $81.74 and its 200 day moving average price is $66.41. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. Limbach Holdings, Inc. has a 12-month low of $35.24 and a 12-month high of $103.20. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 45.73, a P/E/G ratio of 3.27 and a beta of 0.97.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The company had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. During the same quarter in the prior year, the company posted $0.61 EPS. The business’s revenue was up 4.9% on a year-over-year basis. As a group, research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current 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.