Limbach Holdings, Inc. (NASDAQ:LMB) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,805 shares of the construction company’s stock after selling 109 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Limbach were worth $288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LMB. Royce & Associates LP boosted its position in Limbach by 35.3% during the 3rd quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock valued at $18,908,000 after purchasing an additional 65,082 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Limbach during the 2nd quarter worth $3,532,000. Charles Schwab Investment Management Inc. boosted its position in Limbach by 186.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 83,945 shares of the construction company’s stock worth $6,360,000 after acquiring an additional 54,599 shares during the period. Thrivent Financial for Lutherans acquired a new position in Limbach during the 2nd quarter worth $2,653,000. Finally, Segall Bryant & Hamill LLC boosted its position in Limbach by 37.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 103,008 shares of the construction company’s stock worth $7,804,000 after acquiring an additional 27,855 shares during the period. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Trading Down 0.2 %

Shares of Limbach stock opened at $94.33 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 42.88, a price-to-earnings-growth ratio of 3.18 and a beta of 1.09. The business has a fifty day simple moving average of $89.30 and a 200-day simple moving average of $71.90. Limbach Holdings, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $107.00.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. The business had revenue of $133.90 million during the quarter, compared to analyst estimates of $129.50 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. On average, equities analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insider Transactions at Limbach

In other Limbach news, Director David Richard Gaboury purchased 531 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of $94.51 per share, with a total value of $50,184.81. Following the completion of the transaction, the director now owns 2,071 shares of the company’s stock, valued at approximately $195,730.21. This represents a 34.48 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LMB has been the subject of a number of analyst reports. Roth Mkm boosted their price target on Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus boosted their price target on Limbach from $108.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, StockNews.com lowered Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 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.