Acadian Asset Management LLC Cuts Stock Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Acadian Asset Management LLC lessened its position in Limbach Holdings, Inc. (NASDAQ:LMB) by 24.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 225,130 shares of the construction company’s stock after selling 73,964 shares during the quarter. Acadian Asset Management LLC’s holdings in Limbach were worth $9,322,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LMB. Russell Investments Group Ltd. raised its holdings in shares of Limbach by 368.5% in the 1st quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock valued at $2,977,000 after buying an additional 56,535 shares during the period. Vanguard Group Inc. raised its holdings in shares of Limbach by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock valued at $23,464,000 after buying an additional 32,030 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in Limbach by 103.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 62,890 shares of the construction company’s stock worth $2,860,000 after purchasing an additional 31,906 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Limbach during the 4th quarter worth about $1,172,000. Finally, Grizzlyrock Capital LLC purchased a new stake in Limbach during the 4th quarter worth about $602,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 13th.

Limbach Stock Up 1.1 %

NASDAQ LMB traded up $0.65 during trading hours on Friday, hitting $60.29. 666,981 shares of the company were exchanged, compared to its average volume of 160,445. The company has a 50 day moving average of $56.54 and a two-hundred day moving average of $47.93. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.15. Limbach Holdings, Inc. has a 52-week low of $24.02 and a 52-week high of $66.64. The firm has a market cap of $674.04 million, a price-to-earnings ratio of 28.04, a PEG ratio of 2.23 and a beta of 1.05.

Limbach (NASDAQ:LMB) last released its quarterly earnings data on Wednesday, May 8th. The construction company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.28. Limbach had a return on equity of 21.75% and a net margin of 4.93%. The business had revenue of $118.98 million for the quarter, compared to the consensus estimate of $126.50 million. Equities research analysts anticipate that Limbach Holdings, Inc. will post 2.25 earnings per share for the current year.

Insider Activity

In other news, Director Michael F. Mcnally sold 7,973 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $50.16, for a total value of $399,925.68. Following the transaction, the director now owns 56,509 shares in the company, valued at approximately $2,834,491.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Joshua Horowitz sold 7,000 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $57.07, for a total value of $399,490.00. Following the completion of the sale, the director now directly owns 249,672 shares of the company’s stock, valued at approximately $14,248,781.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael F. Mcnally sold 7,973 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $50.16, for a total value of $399,925.68. Following the completion of the sale, the director now directly owns 56,509 shares of the company’s stock, valued at $2,834,491.44. The disclosure for this sale can be found here. Company insiders own 10.20% of the company’s stock.

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.