Limbach Holdings, Inc. (NASDAQ:LMB) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 10.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,829 shares of the construction company’s stock after acquiring an additional 3,120 shares during the quarter. Bank of New York Mellon Corp owned about 0.30% of Limbach worth $1,926,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Calamos Advisors LLC boosted its position in Limbach by 6.0% during the 2nd quarter. Calamos Advisors LLC now owns 15,798 shares of the construction company’s stock worth $899,000 after purchasing an additional 891 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Limbach by 0.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,963 shares of the construction company’s stock valued at $1,649,000 after buying an additional 261 shares during the period. Brendel Financial Advisors LLC acquired a new position in shares of Limbach in the 2nd quarter valued at about $231,000. Price T Rowe Associates Inc. MD grew its position 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 valued at $257,000 after buying an additional 483 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Limbach by 6.0% during the first quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock worth $23,464,000 after acquiring an additional 32,030 shares during the period. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Limbach Stock Up 1.8 %

LMB stock opened at $73.53 on Wednesday. The firm has a market cap of $822.29 million, a PE ratio of 34.20, a PEG ratio of 2.35 and a beta of 0.95. The company has a fifty day simple moving average of $62.31 and a 200 day simple moving average of $53.85. Limbach Holdings, Inc. has a 1 year low of $26.76 and a 1 year high of $76.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.15.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.13. Limbach had a net margin of 5.08% and a return on equity of 21.06%. The business had revenue of $122.24 million for the quarter, compared to analysts’ expectations of $123.50 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Sell-side analysts anticipate that Limbach Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Limbach

In other news, Director Joshua Horowitz sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 190,000 shares of the company’s stock, valued at approximately $12,163,800. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 40,072 shares of company stock worth $2,418,821. Company insiders own 10.20% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Limbach from a “buy” rating to a “hold” rating in a research 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.