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

Allspring Global Investments Holdings LLC raised its position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,009 shares of the construction company's stock after purchasing an additional 3,034 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.29% of Limbach worth $2,483,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in shares of 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 buying an additional 320 shares during the period. Legacy Advisors LLC acquired a new position in Limbach during the first quarter worth $30,000. Comerica Bank boosted its holdings in Limbach by 727.4% during the fourth quarter. Comerica Bank now owns 695 shares of the construction company's stock worth $59,000 after purchasing an additional 611 shares during the last quarter. US Bancorp DE acquired a new position in Limbach during the fourth quarter worth $115,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Limbach during the fourth quarter worth $154,000. Institutional investors own 55.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LMB shares. Stifel Nicolaus increased their target price on shares of Limbach from $141.00 to $151.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Lake Street Capital increased their target price on shares of Limbach from $125.00 to $156.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Roth Capital reaffirmed a "buy" rating on shares of Limbach in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $129.00.

Limbach Stock Performance

NASDAQ:LMB traded up $3.54 during mid-day trading on Thursday, reaching $149.23. 178,027 shares of the company's stock were exchanged, compared to its average volume of 183,896. Limbach Holdings, Inc. has a one year low of $48.17 and a one year high of $154.05. The firm has a market capitalization of $1.73 billion, a PE ratio of 53.49, a price-to-earnings-growth ratio of 2.73 and a beta of 1.19. The business's fifty day simple moving average is $131.79 and its two-hundred day simple moving average is $101.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.55 and a current ratio of 1.55.

Limbach (NASDAQ:LMB - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The construction company reported $1.12 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 last year, the firm earned $0.69 earnings per share. Limbach's revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts anticipate that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

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 transaction of $274,980.00. Following the sale, the insider directly owned 69,877 shares in the company, valued at $9,607,388.73. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 9.70% 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.