Allspring Global Investments Holdings LLC Acquires 8,710 Shares of Limbach Holdings, Inc. $LMB

Key Points

• Allspring Global Investments Holdings LLC increased its holdings in Limbach Holdings, Inc. by 26.4% during Q2, acquiring an additional 8,710 shares, bringing their total to 41,719 shares valued at $5.67 million.
• Limbach reported a quarterly revenue of $142.24 million, exceeding last year's performance by 16.4% and surpassing analysts’ expectations for earnings per share.
• Multiple analysts have rated Limbach shares as a "Buy," with Lake Street Capital raising its price target significantly from $125.00 to $156.00.

Allspring Global Investments Holdings LLC grew its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 26.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,719 shares of the construction company's stock after buying an additional 8,710 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.36% of Limbach worth $5,674,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Comerica Bank lifted its holdings in shares of Limbach by 24.0% in the 1st quarter. Comerica Bank now owns 862 shares of the construction company's stock worth $64,000 after purchasing an additional 167 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Limbach in the 2nd quarter worth $32,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Limbach by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,059 shares of the construction company's stock worth $451,000 after purchasing an additional 241 shares in the last quarter. KLP Kapitalforvaltning AS raised its position in Limbach by 16.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 2,100 shares of the construction company's stock valued at $294,000 after buying an additional 300 shares during the last quarter. Finally, Legacy Advisors LLC purchased a new stake in Limbach in the 1st quarter valued at $30,000. 55.85% of the stock is currently owned by institutional investors.

Limbach Stock Up 2.2%

LMB stock opened at $93.75 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.09 billion, a PE ratio of 32.00 and a beta of 1.42. Limbach Holdings, Inc. has a twelve month low of $63.02 and a twelve month high of $154.05. The stock has a 50-day simple moving average of $103.99 and a two-hundred day simple moving average of $115.42.

Limbach (NASDAQ:LMB - Get Free Report) last posted its earnings results on Tuesday, August 5th. The construction company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.12. The business had revenue of $142.24 million during the quarter, compared to analyst estimates of $144.21 million. Limbach had a return on equity of 29.38% and a net margin of 6.38%.The company's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. Limbach has set its FY 2025 guidance at EPS. On average, equities analysts predict that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LMB shares. 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. Weiss Ratings reissued a "buy (b-)" rating on shares of Limbach in a research report on Wednesday, October 8th. Stifel Nicolaus lowered their price target on Limbach from $146.00 to $132.00 and set a "buy" rating for the company in a research report on Monday, October 13th. Finally, Wall Street Zen raised Limbach from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Limbach currently has a consensus rating of "Buy" and a consensus target price of $122.67.

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.

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