Meeder Asset Management Inc. Lowers Stock Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

Meeder Asset Management Inc. lessened its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 33.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,702 shares of the construction company’s stock after selling 1,370 shares during the quarter. Meeder Asset Management Inc.’s holdings in Limbach were worth $205,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. American Capital Advisory LLC acquired a new position in Limbach during the third quarter worth approximately $25,000. nVerses Capital LLC purchased a new stake in shares of Limbach during the 3rd quarter valued at $53,000. Quest Partners LLC acquired a new stake in shares of Limbach during the 3rd quarter worth $207,000. Harbor Capital Advisors Inc. raised its position in shares of Limbach by 6.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after buying an additional 162 shares during the period. Finally, Mraz Amerine & Associates Inc. acquired a new position in Limbach in the third quarter valued at $265,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

Insider Buying and Selling

In related news, Director Joshua Horowitz sold 7,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $61.86, for a total transaction of $433,020.00. Following the completion of the transaction, the director now directly owns 203,000 shares in the company, valued at $12,557,580. This represents a 3.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on LMB shares. Roth Mkm upped their price target on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com cut shares of Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus began coverage on shares of Limbach in a report on Friday, November 15th. They set a “buy” rating and a $108.00 price target for the company.

Limbach Price Performance

Shares of NASDAQ LMB opened at $99.42 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 45.19, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97. Limbach Holdings, Inc. has a twelve month low of $35.24 and a twelve month high of $99.97. The business has a 50 day simple moving average of $80.60 and a 200-day simple moving average of $65.96.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The firm had revenue of $133.90 million during the quarter, compared to analyst estimates of $129.50 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Limbach Holdings, Inc. will post 2.58 earnings per share for the current year.

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.