Allspring Global Investments Holdings LLC Takes Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Allspring Global Investments Holdings LLC bought a new position in Limbach Holdings, Inc. (NASDAQ:LMB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 62,039 shares of the construction company’s stock, valued at approximately $3,532,000. Allspring Global Investments Holdings LLC owned 0.55% of Limbach as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LMB. Gladius Capital Management LP purchased a new position in shares of Limbach in the fourth quarter valued at about $44,000. USA Financial Formulas grew its stake in shares of Limbach by 13,000.0% in the fourth quarter. USA Financial Formulas now owns 1,703 shares of the construction company’s stock worth $77,000 after purchasing an additional 1,690 shares during the last quarter. AJOVista LLC bought a new position in Limbach in the fourth quarter worth $82,000. Brendel Financial Advisors LLC bought a new stake in shares of Limbach during the 2nd quarter valued at $231,000. Finally, Virtu Financial LLC purchased a new stake in shares of Limbach in the 4th quarter worth about $235,000. 55.85% of the stock is currently owned by institutional investors.

Insider Activity at Limbach

In other news, Director Joshua Horowitz sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $57.07, for a total value of $399,490.00. Following the transaction, the director now owns 249,672 shares in the company, valued at $14,248,781.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 35,072 shares of company stock valued at $2,065,191. 10.20% of the stock is owned by insiders.

Limbach Price Performance

LMB stock opened at $64.63 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $728.38 million, a price-to-earnings ratio of 30.06, a PEG ratio of 2.39 and a beta of 1.05. The firm has a 50 day moving average price of $59.90 and a 200-day moving average price of $52.04. Limbach Holdings, Inc. has a 52-week low of $26.76 and a 52-week high of $66.64.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.13. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The business had revenue of $122.24 million during the quarter, compared to analysts’ expectations of $123.50 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. Equities research analysts forecast that Limbach Holdings, Inc. will post 2.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Limbach from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th.

Limbach Profile

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.