Principal Financial Group Inc. Boosts Stake in Limbach Holdings, Inc. (NASDAQ:LMB)

Principal Financial Group Inc. raised its position in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,873 shares of the construction company’s stock after acquiring an additional 963 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Limbach worth $1,033,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LMB. Vanguard Group Inc. boosted its position in shares of Limbach by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 604,397 shares of the construction company’s stock worth $51,700,000 after buying an additional 3,001 shares during the period. Wasatch Advisors LP boosted its position in shares of Limbach by 0.4% in the fourth quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company’s stock worth $32,025,000 after buying an additional 1,546 shares during the period. First Trust Advisors LP boosted its position in shares of Limbach by 67.5% in the fourth quarter. First Trust Advisors LP now owns 322,396 shares of the construction company’s stock worth $27,578,000 after buying an additional 129,869 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Limbach by 41.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 216,567 shares of the construction company’s stock worth $18,525,000 after buying an additional 62,987 shares during the period. Finally, Bessemer Group Inc. purchased a new stake in shares of Limbach in the first quarter worth about $11,705,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Roth Capital reiterated a “buy” rating on shares of Limbach in a research note on Wednesday, May 7th. Stifel Nicolaus boosted their price target on Limbach from $151.00 to $163.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Finally, Lake Street Capital boosted their price target on Limbach from $125.00 to $156.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Limbach Stock Performance

LMB opened at $138.73 on Friday. The firm has a market cap of $1.61 billion, a PE ratio of 49.72, a P/E/G ratio of 2.64 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. The business has a fifty day simple moving average of $136.42 and a 200-day simple moving average of $104.83. Limbach Holdings, Inc. has a fifty-two week low of $48.17 and a fifty-two week high of $154.05.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Monday, May 5th. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.82. Limbach had a return on equity of 27.66% and a net margin of 6.29%. The business had revenue of $133.11 million during the quarter, compared to analyst estimates of $121.06 million. During the same period last year, the company earned $0.69 earnings per share. Limbach’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In related news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $137.49, for a total transaction of $274,980.00. Following the sale, the insider directly owned 69,877 shares of the company’s stock, valued at $9,607,388.73. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.70% of the company’s stock.

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.