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

Meeder Asset Management Inc. cut its holdings in Limbach Holdings, Inc. (NASDAQ:LMB) by 33.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Capital Advisory LLC acquired a new stake in shares of Limbach during the third quarter worth $25,000. nVerses Capital LLC purchased a new position in Limbach during the 3rd quarter worth $53,000. Harbor Capital Advisors Inc. lifted its stake 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 acquiring an additional 162 shares during the period. Quest Partners LLC purchased a new stake in shares of Limbach in the third quarter valued at about $207,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Limbach during the second quarter worth about $223,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Roth Mkm raised their price target on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus started coverage on Limbach in a report on Friday, November 15th. They set a “buy” rating and a $108.00 price objective on the stock.

Limbach Trading Up 5.9 %

Shares of Limbach stock opened at $99.42 on Wednesday. The company has a 50-day moving average of $80.60 and a two-hundred day moving average of $65.96. Limbach Holdings, Inc. has a 12-month low of $35.24 and a 12-month high of $99.97. 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 stock has a market cap of $1.12 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97.

Limbach (NASDAQ:LMB) last released its quarterly earnings data 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. The firm had revenue of $133.90 million during the quarter, compared to the consensus estimate of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. Limbach’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. On average, research analysts anticipate that Limbach Holdings, Inc. will post 2.58 EPS for the current fiscal year.

Insider Transactions at Limbach

In other news, Director Joshua Horowitz sold 5,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $64.02, for a total value of $320,100.00. Following the sale, the director now directly owns 190,000 shares in the company, valued at $12,163,800. This represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.20% of the company’s stock.

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.