Polar Asset Management Partners Inc. Makes New $10.16 Million Investment in Limbach Holdings, Inc. $LMB

Polar Asset Management Partners Inc. acquired a new position in shares of Limbach Holdings, Inc. (NASDAQ:LMB) during the 2nd quarter, Holdings Channel reports. The fund acquired 131,901 shares of the construction company’s stock, valued at approximately $10,156,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Limbach during the second quarter worth $75,410,000. Invesco Ltd. grew its holdings in shares of Limbach by 2,041.6% in the 2nd quarter. Invesco Ltd. now owns 400,603 shares of the construction company’s stock valued at $56,124,000 after buying an additional 381,897 shares during the period. Neumeier Poma Investment Counsel LLC bought a new stake in shares of Limbach in the 2nd quarter valued at $24,944,381,000. Wasatch Advisors LP increased its position in shares of Limbach by 37.8% in the 4th quarter. Wasatch Advisors LP now owns 997,394 shares of the construction company’s stock valued at $77,647,000 after buying an additional 273,818 shares in the last quarter. Finally, Royce & Associates LP increased its position in shares of Limbach by 83.7% in the 4th quarter. Royce & Associates LP now owns 335,663 shares of the construction company’s stock valued at $26,131,000 after buying an additional 152,956 shares in the last quarter. Institutional investors own 55.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on LMB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Limbach in a report on Wednesday, August 5th. JPMorgan Chase & Co. downgraded Limbach from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $60.00 to $50.00 in a report on Friday, August 21st. Wall Street Zen downgraded Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada set a $50.00 price target on Limbach in a research report on Friday. Finally, Stifel Nicolaus cut their price objective on Limbach from $107.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, August 10th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Limbach presently has a consensus rating of “Reduce” and a consensus price target of $62.00.

Limbach Stock Up 0.5%

Shares of LMB stock opened at $41.91 on Wednesday. Limbach Holdings, Inc. has a 12-month low of $41.59 and a 12-month high of $128.57. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $66.95 and a 200-day moving average of $77.81. The company has a market capitalization of $499.99 million, a price-to-earnings ratio of 16.76 and a beta of 1.45.

Limbach (NASDAQ:LMB) last posted its quarterly earnings data on Tuesday, August 4th. The construction company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.29). The company had revenue of $173.46 million during the quarter, compared to the consensus estimate of $177.33 million. Limbach had a net margin of 4.42% and a return on equity of 23.22%. As a group, equities research analysts predict that Limbach Holdings, Inc. will post 4.17 earnings per share for the current fiscal year.

Insider Activity at Limbach

In other news, EVP Jay Sharp sold 4,871 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.82, for a total value of $388,803.22. Following the sale, the executive vice president directly owned 73,456 shares in the company, valued at $5,863,257.92. The trade was a 6.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.00% of the stock is currently owned by company insiders.

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.