Limbach Holdings, Inc. (NASDAQ:LMB) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 10.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in Limbach by 592.6% in the first quarter. Versant Capital Management Inc now owns 374 shares of the construction company's stock valued at $28,000 after acquiring an additional 320 shares during the last quarter. Legacy Advisors LLC purchased a new stake in Limbach in the first quarter valued at $30,000. Comerica Bank lifted its position in Limbach by 727.4% in the fourth quarter. Comerica Bank now owns 695 shares of the construction company's stock valued at $59,000 after acquiring an additional 611 shares during the last quarter. US Bancorp DE purchased a new stake in Limbach in the fourth quarter valued at $115,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Limbach in the fourth quarter valued at $154,000. 55.85% of the stock is owned by hedge funds and other institutional investors.

Limbach Stock Performance

Shares of Limbach stock traded down $3.65 on Tuesday, reaching $144.61. 19,712 shares of the stock were exchanged, compared to its average volume of 182,825. Limbach Holdings, Inc. has a 1-year low of $48.17 and a 1-year high of $154.05. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average price of $129.77 and a two-hundred day moving average price of $101.31. The firm has a market capitalization of $1.68 billion, a PE ratio of 52.03, a PEG ratio of 2.84 and a beta of 1.19.

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

Analyst Upgrades and Downgrades

LMB has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of Limbach from $141.00 to $151.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Lake Street Capital lifted their price objective on shares of Limbach from $125.00 to $156.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Roth Capital restated 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 given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $129.00.

Insider Activity

In other Limbach news, insider Jay Sharp sold 2,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $137.49, for a total value of $274,980.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.20% of the stock is currently owned by company insiders.

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.