Corsair Capital Management L.P. Increases Stock Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

Corsair Capital Management L.P. boosted its position in Limbach Holdings, Inc. (NASDAQ:LMB) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 313,360 shares of the construction company’s stock after purchasing an additional 3,988 shares during the period. Limbach makes up about 5.6% of Corsair Capital Management L.P.’s portfolio, making the stock its 5th largest holding. Corsair Capital Management L.P.’s holdings in Limbach were worth $23,740,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LMB. Harbor Capital Advisors Inc. increased its position in shares of Limbach by 6.3% in the third 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 in the last quarter. SummerHaven Investment Management LLC grew its position in Limbach by 0.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,963 shares of the construction company’s stock worth $1,649,000 after purchasing an additional 261 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Limbach by 7.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock valued at $232,000 after purchasing an additional 292 shares during the period. American Capital Advisory LLC purchased a new stake in shares of Limbach in the third quarter valued at $25,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Limbach by 0.8% in the third quarter. Thrivent Financial for Lutherans now owns 46,987 shares of the construction company’s stock worth $3,560,000 after buying an additional 382 shares during the period. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Trading Down 0.4 %

Shares of NASDAQ LMB opened at $102.03 on Wednesday. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 46.38, a PEG ratio of 3.37 and a beta of 0.97. The business has a 50 day simple moving average of $83.52 and a 200 day simple moving average of $67.80. Limbach Holdings, Inc. has a 52 week low of $35.24 and a 52 week high of $104.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57.

Limbach (NASDAQ:LMB) last announced its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The firm had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, research analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 7,000 shares of the 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Roth Mkm lifted their price objective on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus began coverage on Limbach in a research note on Friday, November 15th. They issued a “buy” rating and a $108.00 price target for the company.

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.