Limbach Holdings, Inc. (NASDAQ:LMB) Stock Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,616 shares of the construction company’s stock after selling 250 shares during the period. Principal Financial Group Inc.’s holdings in Limbach were worth $880,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. American Capital Advisory LLC bought a new position in Limbach during the third quarter valued at approximately $25,000. Harbor Capital Advisors Inc. lifted its stake in shares of Limbach by 6.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock valued at $207,000 after purchasing an additional 162 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Limbach by 16.1% in the third quarter. Janney Montgomery Scott LLC now owns 29,806 shares of the construction company’s stock worth $2,258,000 after purchasing an additional 4,128 shares in the last quarter. Mraz Amerine & Associates Inc. acquired a new position in Limbach during the third quarter worth $265,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Limbach by 34.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 83,385 shares of the construction company’s stock valued at $6,317,000 after buying an additional 21,346 shares in the last quarter. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Limbach Price Performance

NASDAQ LMB opened at $102.64 on Friday. The stock has a 50-day simple moving average of $82.35 and a 200 day simple moving average of $66.80. Limbach Holdings, Inc. has a twelve month low of $35.24 and a twelve month high of $103.20. The stock has a market capitalization of $1.16 billion, a PE ratio of 46.65, a P/E/G ratio of 3.25 and a beta of 0.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57.

Limbach (NASDAQ:LMB) last posted 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. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The company had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $129.50 million. During the same period in the prior year, the business earned $0.61 earnings per share. Limbach’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Roth Mkm lifted their price target on shares of Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus started coverage on shares of Limbach in a report on Friday, November 15th. They set a “buy” rating and a $108.00 price objective for the company.

Insiders Place Their Bets

In other Limbach news, Director Joshua Horowitz sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $64.02, for a total value of $320,100.00. Following the completion of the sale, the director now owns 190,000 shares in the company, valued at approximately $12,163,800. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.20% of the company’s stock.

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.