Limbach Holdings, Inc. $LMB Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. decreased its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 21.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,464 shares of the construction company’s stock after selling 56,511 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Limbach were worth $15,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of Limbach by 23.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 687 shares of the construction company’s stock worth $53,000 after buying an additional 130 shares during the period. Comerica Bank raised its stake in Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after acquiring an additional 167 shares during the last quarter. Royal Bank of Canada raised its stake in Limbach by 34.5% in the 4th quarter. Royal Bank of Canada now owns 1,445 shares of the construction company’s stock worth $113,000 after acquiring an additional 371 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Limbach in the 4th quarter worth $150,000. Finally, BNP Paribas Financial Markets lifted its position in Limbach by 59.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock worth $158,000 after acquiring an additional 423 shares during the period. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Trading Down 0.4%

Shares of Limbach stock opened at $81.45 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.71 and a quick ratio of 1.71. The firm has a fifty day moving average price of $82.69 and a 200 day moving average price of $82.60. Limbach Holdings, Inc. has a 1 year low of $65.08 and a 1 year high of $154.05. The stock has a market cap of $970.88 million, a PE ratio of 29.62 and a beta of 1.42.

Limbach (NASDAQ:LMB) last posted its earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.43. Limbach had a net margin of 5.09% and a return on equity of 26.17%. The company had revenue of $138.86 million during the quarter, compared to the consensus estimate of $134.23 million. During the same period in the previous year, the firm posted $1.12 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts predict that Limbach Holdings, Inc. will post 4.98 earnings per share for the current year.

Insider Transactions at Limbach

In related news, EVP Jay Sharp sold 4,871 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.82, for a total transaction of $388,803.22. Following the sale, the executive vice president directly owned 73,456 shares of the company’s stock, valued at $5,863,257.92. This trade represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jayme L. Brooks sold 5,703 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $85.43, for a total value of $487,207.29. Following the sale, the chief financial officer directly owned 130,840 shares in the company, valued at approximately $11,177,661.20. This trade represents a 4.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,394 shares of company stock valued at $1,795,746 in the last quarter. Company insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. reduced their price objective on Limbach from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. Finally, Weiss Ratings lowered Limbach from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $116.67.

Limbach Company Profile

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.