Hillsdale Investment Management Inc. Cuts Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Hillsdale Investment Management Inc. lessened its holdings in Limbach Holdings, Inc. (NASDAQ:LMB) by 31.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,400 shares of the construction company’s stock after selling 2,000 shares during the period. Hillsdale Investment Management Inc.’s holdings in Limbach were worth $182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SummerHaven Investment Management LLC boosted its stake in shares of Limbach by 0.9% in the 4th quarter. SummerHaven Investment Management LLC now owns 28,453 shares of the construction company’s stock worth $1,294,000 after buying an additional 252 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Limbach by 1.4% in the 4th quarter. Panagora Asset Management Inc. now owns 23,436 shares of the construction company’s stock worth $1,066,000 after purchasing an additional 320 shares during the period. Empowered Funds LLC raised its holdings in shares of Limbach by 7.3% in the 1st quarter. Empowered Funds LLC now owns 7,676 shares of the construction company’s stock worth $318,000 after purchasing an additional 525 shares during the period. New York State Teachers Retirement System bought a new stake in shares of Limbach in the 4th quarter worth approximately $38,000. Finally, Gladius Capital Management LP bought a new stake in shares of Limbach in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Performance

LMB stock traded up $1.04 during midday trading on Monday, reaching $61.33. 166,787 shares of the company’s stock traded hands, compared to its average volume of 173,670. The company has a 50-day moving average price of $56.75 and a two-hundred day moving average price of $48.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.60 and a current ratio of 1.60. Limbach Holdings, Inc. has a 52 week low of $24.02 and a 52 week high of $66.64. The firm has a market capitalization of $685.67 million, a PE ratio of 28.53, a price-to-earnings-growth ratio of 2.23 and a beta of 1.05.

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

Insider Transactions at Limbach

In other news, Director Joshua Horowitz sold 7,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $57.07, for a total value of $399,490.00. Following the transaction, the director now owns 249,672 shares of the company’s stock, valued at $14,248,781.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Jayme L. Brooks bought 943 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average cost of $52.15 per share, for a total transaction of $49,177.45. Following the completion of the transaction, the chief financial officer now owns 4,511 shares of the company’s stock, valued at $235,248.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joshua Horowitz sold 7,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $57.07, for a total transaction of $399,490.00. Following the completion of the transaction, the director now owns 249,672 shares of the company’s stock, valued at $14,248,781.04. The disclosure for this sale can be found here. Insiders own 10.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.