Limbach Holdings, Inc. (NASDAQ:LMB) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its holdings in Limbach Holdings, Inc. (NASDAQ:LMB) by 24.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,239 shares of the construction company’s stock after selling 5,297 shares during the period. Franklin Resources Inc. owned approximately 0.14% of Limbach worth $1,230,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in Limbach by 6.4% in the 2nd quarter. Renaissance Technologies LLC now owns 394,871 shares of the construction company’s stock valued at $22,480,000 after purchasing an additional 23,700 shares in the last quarter. Wasatch Advisors LP lifted its stake in Limbach by 6.7% in the third quarter. Wasatch Advisors LP now owns 372,836 shares of the construction company’s stock worth $28,246,000 after acquiring an additional 23,360 shares during the last quarter. Corsair Capital Management L.P. grew its holdings in Limbach by 1.3% during the 3rd quarter. Corsair Capital Management L.P. now owns 313,360 shares of the construction company’s stock worth $23,740,000 after acquiring an additional 3,988 shares in the last quarter. Royce & Associates LP lifted its position in shares of Limbach by 35.3% during the 3rd quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock worth $18,908,000 after purchasing an additional 65,082 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Limbach by 2.2% during the third quarter. Geode Capital Management LLC now owns 238,445 shares of the construction company’s stock worth $18,068,000 after purchasing an additional 5,093 shares in the last quarter. 55.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Limbach

In related news, Director David Richard Gaboury purchased 531 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average price of $94.51 per share, for a total transaction of $50,184.81. Following the transaction, the director now directly owns 2,071 shares of the company’s stock, valued at approximately $195,730.21. The trade was a 34.48 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.20% of the stock is owned by insiders.

Limbach Stock Performance

Shares of LMB stock opened at $85.90 on Friday. The firm has a market cap of $968.35 million, a price-to-earnings ratio of 39.05, a PEG ratio of 3.10 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. Limbach Holdings, Inc. has a 1 year low of $35.24 and a 1 year high of $107.00. The stock’s 50-day moving average is $90.78 and its two-hundred day moving average is $73.71.

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

Wall Street Analyst Weigh In

LMB has been the topic of a number of analyst reports. Roth Mkm raised their price target on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus upped their price target on Limbach from $108.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, StockNews.com cut shares of Limbach from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

About Limbach

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.