Limbach Holdings, Inc. (NASDAQ:LMB) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 10.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,009 shares of the construction company’s stock after purchasing an additional 3,034 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.29% of Limbach worth $2,483,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. US Bancorp DE purchased a new position in Limbach in the fourth quarter valued at $115,000. Charles Schwab Investment Management Inc. raised its position in Limbach by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 85,086 shares of the construction company’s stock valued at $7,278,000 after purchasing an additional 1,141 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Limbach in the 4th quarter valued at about $2,230,000. PFG Advisors raised its position in Limbach by 11.8% in the 4th quarter. PFG Advisors now owns 7,619 shares of the construction company’s stock valued at $652,000 after purchasing an additional 803 shares in the last quarter. Finally, Saturna Capital Corp raised its position in Limbach by 7.0% in the 4th quarter. Saturna Capital Corp now owns 9,804 shares of the construction company’s stock valued at $839,000 after purchasing an additional 639 shares in the last quarter. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Limbach

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $137.49, for a total value of $274,980.00. Following the transaction, the insider directly owned 69,877 shares in the company, valued at approximately $9,607,388.73. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 10.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Lake Street Capital increased their price target on Limbach from $125.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Roth Capital reaffirmed a “buy” rating on shares of Limbach in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus increased their price objective on Limbach from $141.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Limbach has an average rating of “Moderate Buy” and an average target price of $129.00.

Limbach Trading Up 2.5%

NASDAQ:LMB opened at $149.39 on Monday. The stock’s 50 day moving average price is $128.65 and its 200 day moving average price is $100.90. The company has a market capitalization of $1.74 billion, a PE ratio of 53.54, a P/E/G ratio of 2.84 and a beta of 1.19. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. Limbach Holdings, Inc. has a 52-week low of $48.17 and a 52-week high of $154.05.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.82. The firm had revenue of $133.11 million for the quarter, compared to the consensus estimate of $121.06 million. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. On average, research analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Limbach Company 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.