Bessemer Group Inc. Sells 7,552 Shares of Limbach Holdings, Inc. $LMB

Bessemer Group Inc. lessened its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 163,462 shares of the construction company’s stock after selling 7,552 shares during the period. Bessemer Group Inc.’s holdings in Limbach were worth $12,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Limbach during the 3rd quarter valued at about $54,000. Comerica Bank boosted its holdings in shares of Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock valued at $64,000 after purchasing an additional 167 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Limbach by 85.0% during the 3rd quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock valued at $158,000 after purchasing an additional 749 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Limbach by 59.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock valued at $158,000 after purchasing an additional 423 shares during the last quarter. Finally, Man Group plc boosted its holdings in shares of Limbach by 49.7% during the 3rd quarter. Man Group plc now owns 2,511 shares of the construction company’s stock valued at $244,000 after purchasing an additional 834 shares during the last quarter. Institutional investors own 55.85% of the company’s stock.

Limbach Price Performance

Shares of NASDAQ LMB opened at $72.59 on Monday. The firm’s 50-day moving average price is $83.27 and its 200-day moving average price is $82.36. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $865.27 million, a price-to-earnings ratio of 26.40 and a beta of 1.54. Limbach Holdings, Inc. has a 12-month low of $65.08 and a 12-month high of $154.05.

Limbach (NASDAQ:LMB) last announced its earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.43. The firm had revenue of $138.86 million for the quarter, compared to analysts’ expectations of $134.23 million. Limbach had a net margin of 5.09% and a return on equity of 26.17%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. On average, equities research analysts anticipate that Limbach Holdings, Inc. will post 4.98 EPS for the current fiscal year.

Insider Activity

In other news, EVP Jay Sharp sold 2,000 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $79.99, for a total transaction of $159,980.00. Following the sale, the executive vice president directly owned 79,027 shares in the company, valued at approximately $6,321,369.73. This represents a 2.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jayme L. Brooks sold 3,440 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $100.00, for a total transaction of $344,000.00. Following the sale, the chief financial officer owned 125,227 shares in the company, valued at $12,522,700. This represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 27,433 shares of company stock worth $2,345,453 over the last 90 days. Corporate insiders own 10.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on LMB shares. Stifel Nicolaus dropped their price objective on shares of Limbach from $111.00 to $104.00 and set a “buy” rating for the company in a report on Monday, January 26th. JPMorgan Chase & Co. dropped their price objective on shares of Limbach from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Weiss Ratings downgraded shares of Limbach from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Finally, Wall Street Zen cut shares of Limbach from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $116.67.

About Limbach

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.