Should You Invest in Limbach Holdings (LMB)?
1 Main Capital, a boutique investment firm, released its first-quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 12.2% net of fees and expenses compared to a 2.7% return for the Russell 2000 Index and a 7.5% gain for the S&P 500. The Fund has delivered an annualized net return of 20.3% since its inception in February 2018 compared to 3.9% and 9.5% for the indexes. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
1 Main Capital highlighted stocks like Limbach Holdings, Inc. (NASDAQ:LMB) in the first quarter 2023 investor letter. Headquartered in Warrendale, Pennsylvania, Limbach Holdings, Inc. (NASDAQ:LMB) is a building systems solutions company. On April 13, 2023, Limbach Holdings, Inc. (NASDAQ:LMB) stock closed at $18.06 per share. One-month return of Limbach Holdings, Inc. (NASDAQ:LMB) was 18.12%, and its shares gained 177.85% of their value over the last 52 weeks. Limbach Holdings, Inc. (NASDAQ:LMB) has a market capitalization of $188.722 million.
1 Main Capital made the following comment about Limbach Holdings, Inc. (NASDAQ:LMB) in its Q1 2023 investor letter:
"Limbach Holdings, Inc. (NASDAQ:LMB) was the Fund’s largest winner in 2020 and remains one of our most lucrative investments to date. In my Q2’21 letter, I detailed numerous concerns regarding the company’s CEO, that eroded my trust, ultimately leading me to exit the position entirely by Q3’21.
In January of this year, LMB announced that its former CEO would be replaced by then-COO, Michael McCann, at the end of Q1. I believed that Mike was the right leader for this business (along with other executives of the company) and acted quickly to make LMB a large holding for the Fund once again.
As a reminder, LMB is a leading specialty contractor that offers design, engineering, construction, installation, and maintenance services to commercial and industrial clients across the US. The company specializes in HVAC, mechanical, electrical, plumbing and control systems for institutions with mission-critical infrastructures such as hospitals and data centers…” (Click here to read the full text)
Limbach Holdings, Inc. (NASDAQ:LMB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 7 hedge fund portfolios held Limbach Holdings, Inc. (NASDAQ:LMB) at the end of the fourth quarter which was 4 in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
