Allspring Global Investments Holdings LLC Has $2.48 Million Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Allspring Global Investments Holdings LLC grew its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 10.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 33,009 shares of the construction company's stock after acquiring an additional 3,034 shares during the period. Allspring Global Investments Holdings LLC owned about 0.29% of Limbach worth $2,483,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Limbach by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 604,397 shares of the construction company's stock valued at $51,700,000 after acquiring an additional 3,001 shares in the last quarter. Wasatch Advisors LP raised its stake in Limbach by 0.4% during the 4th quarter. Wasatch Advisors LP now owns 374,382 shares of the construction company's stock valued at $32,025,000 after purchasing an additional 1,546 shares during the period. First Trust Advisors LP lifted its holdings 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 valued at $27,578,000 after purchasing an additional 129,869 shares in the last quarter. 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 position in shares of Limbach during the first quarter valued at $11,705,000. 55.85% of the stock is owned by institutional investors.

Limbach Stock Down 0.6%

NASDAQ:LMB traded down $0.94 during mid-day trading on Monday, reaching $148.26. The stock had a trading volume of 171,244 shares, compared to its average volume of 183,432. The stock has a market cap of $1.72 billion, a P/E ratio of 53.14, a PEG ratio of 2.84 and a beta of 1.19. The business's 50 day moving average is $128.65 and its 200 day moving average is $100.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 1.55. Limbach Holdings, Inc. has a fifty-two week low of $48.17 and a fifty-two week high of $154.05.

Limbach (NASDAQ:LMB - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.30 by $0.82. The company had revenue of $133.11 million for the quarter, compared to analyst estimates of $121.06 million. Limbach had a net margin of 6.29% and a return on equity of 27.66%. Limbach's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 EPS. As a group, sell-side analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

LMB has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Limbach from $141.00 to $151.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Lake Street Capital boosted their price objective on shares of Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Roth Capital reissued a "buy" rating on shares of Limbach in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $129.00.

Insider Activity

In related news, insider Jay Sharp sold 2,000 shares of the firm's 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 of the company's stock, valued at approximately $9,607,388.73. This trade represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.20% 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.