The Manufacturers Life Insurance Company Has $288,000 Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

The Manufacturers Life Insurance Company lessened its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in LMB. SummerHaven Investment Management LLC boosted its stake in shares of Limbach by 0.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,963 shares of the construction company’s stock worth $1,649,000 after acquiring an additional 261 shares in the last quarter. Calamos Advisors LLC boosted its stake in Limbach by 6.0% during the 2nd quarter. Calamos Advisors LLC now owns 15,798 shares of the construction company’s stock valued at $899,000 after purchasing an additional 891 shares during the period. Bank of New York Mellon Corp boosted its stake in Limbach by 10.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 33,829 shares of the construction company’s stock valued at $1,926,000 after purchasing an additional 3,120 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Limbach during the 2nd quarter valued at approximately $3,532,000. Finally, Principal Financial Group Inc. boosted its stake in Limbach by 15.9% during the 2nd quarter. Principal Financial Group Inc. now owns 11,866 shares of the construction company’s stock valued at $676,000 after purchasing an additional 1,626 shares during the period. Institutional investors own 55.85% of the company’s stock.

Limbach Trading Down 0.2 %

Limbach stock opened at $94.33 on Monday. The business has a 50 day moving average price of $89.30 and a two-hundred day moving average price of $71.90. 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 stock 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. Limbach Holdings, Inc. has a 12 month low of $35.24 and a 12 month high of $107.00.

Limbach (NASDAQ:LMB) last issued its earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. Limbach had a return on equity of 20.16% and a net margin of 5.08%. The business 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 firm posted $0.61 EPS. Limbach’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Analyst Upgrades and Downgrades

LMB has been the subject of several recent analyst reports. StockNews.com downgraded Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Roth Mkm increased their target price on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus increased their target price on Limbach from $108.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th.

Insider Activity at Limbach

In related news, Director David Richard Gaboury purchased 531 shares of Limbach stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average cost of $94.51 per share, for a total transaction of $50,184.81. Following the transaction, the director now directly owns 2,071 shares of the company’s stock, valued at approximately $195,730.21. This trade represents a 34.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 10.20% of the company’s stock.

About Limbach

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.