Man Group plc Invests $356,000 in Limbach Holdings, Inc. (NASDAQ:LMB)

Man Group plc bought a new position in shares of Limbach Holdings, Inc. (NASDAQ:LMB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,162 shares of the construction company’s stock, valued at approximately $356,000.

Several other large investors also recently made changes to their positions in LMB. JPMorgan Chase & Co. boosted its holdings in Limbach by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 5,194 shares of the construction company’s stock valued at $393,000 after acquiring an additional 699 shares during the last quarter. Moody Aldrich Partners LLC bought a new position in Limbach in the fourth quarter valued at about $4,430,000. Kestra Private Wealth Services LLC boosted its holdings in Limbach by 36.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,563 shares of the construction company’s stock valued at $989,000 after acquiring an additional 3,075 shares during the last quarter. Rhumbline Advisers boosted its holdings in Limbach by 1.8% in the fourth quarter. Rhumbline Advisers now owns 14,065 shares of the construction company’s stock valued at $1,203,000 after acquiring an additional 255 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Limbach by 11.1% in the fourth quarter. Principal Financial Group Inc. now owns 12,910 shares of the construction company’s stock valued at $1,104,000 after acquiring an additional 1,294 shares during the last quarter. Institutional investors own 55.85% of the company’s stock.

Limbach Trading Up 1.9%

NASDAQ LMB opened at $127.95 on Tuesday. The firm has a market cap of $1.49 billion, a P/E ratio of 58.16, a P/E/G ratio of 2.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The stock’s 50-day moving average is $95.43 and its 200-day moving average is $92.52. Limbach Holdings, Inc. has a one year low of $48.17 and a one year high of $129.40.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.82. The company had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. Limbach had a return on equity of 20.16% and a net margin of 5.08%. Limbach’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. Sell-side analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on LMB. Lake Street Capital raised their target price on Limbach from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Roth Capital restated a “buy” rating on shares of Limbach in a report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $103.00 target price on Limbach in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.67.

Insider Transactions at Limbach

In related news, Director Joshua Horowitz sold 25,400 shares of Limbach stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $75.43, for a total value of $1,915,922.00. Following the sale, the director now owns 164,600 shares of the company’s stock, valued at approximately $12,415,778. This trade represents a 13.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.70% of the stock is currently owned by insiders.

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.