Thrivent Financial for Lutherans Purchases 55,511 Shares of Limbach Holdings, Inc. $LMB

Key Points

• Thrivent Financial for Lutherans increased its stake in Limbach Holdings by 7.6% in the fourth quarter, adding 55,511 shares to bring its total to 790,632 shares worth about $61.6 million.
• Limbach shares were down 3.1% to $72.59, well below their 52-week high of $154.05, while the company’s market cap stood at about $865 million.
• The company recently beat earnings expectations, reporting $0.64 EPS versus the $0.21 consensus and revenue of $138.86 million; however, analysts currently rate the stock a consensus Hold with a $116.67 target price.

Thrivent Financial for Lutherans lifted its position in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 790,632 shares of the construction company's stock after buying an additional 55,511 shares during the quarter. Thrivent Financial for Lutherans owned about 6.80% of Limbach worth $61,550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Limbach in the third quarter valued at $54,000. Comerica Bank grew its stake in shares of Limbach by 24.0% in the first quarter. Comerica Bank now owns 862 shares of the construction company's stock valued at $64,000 after buying an additional 167 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Limbach by 85.0% in the third quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company's stock valued at $158,000 after buying an additional 749 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Limbach by 59.7% in the second quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company's stock valued at $158,000 after buying an additional 423 shares in the last quarter. Finally, Man Group plc grew its stake in shares of Limbach by 49.7% in the third quarter. Man Group plc now owns 2,511 shares of the construction company's stock valued at $244,000 after buying an additional 834 shares in the last quarter. 55.85% of the stock is owned by institutional investors.

Limbach Stock Down 3.1%

LMB opened at $72.59 on Friday. Limbach Holdings, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $154.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71. The company has a market capitalization of $865.27 million, a P/E ratio of 26.40 and a beta of 1.54. The stock has a fifty day moving average of $83.27 and a 200-day moving average of $82.48.

Limbach (NASDAQ:LMB - Get Free Report) last posted its earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.43. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The company had revenue of $138.86 million during the quarter, compared to the consensus estimate of $134.23 million. During the same quarter last year, the firm earned $1.12 earnings per share. The company's revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that Limbach Holdings, Inc. will post 4.98 EPS for the current year.

Wall Street Analyst Weigh In

LMB has been the subject of several analyst reports. Wall Street Zen cut shares of Limbach from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. decreased their target price on shares of Limbach from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, March 26th. Weiss Ratings cut shares of Limbach from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 8th. Finally, Stifel Nicolaus reduced their price objective on shares of Limbach from $111.00 to $104.00 and set a "buy" rating for the company in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $116.67.

Insider Transactions at Limbach

In related news, EVP Jay Sharp sold 2,000 shares of the business's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $79.99, for a total value of $159,980.00. Following the completion of the transaction, the executive vice president owned 79,027 shares of the company's stock, valued at $6,321,369.73. The trade was a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jayme L. Brooks sold 9,910 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $78.56, for a total value of $778,529.60. Following the completion of the transaction, the chief financial officer directly owned 140,750 shares of the company's stock, valued at approximately $11,057,320. This trade represents a 6.58% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 27,433 shares of company stock valued at $2,345,453. 9.70% of the stock is owned by insiders.

About Limbach

Limbach Holdings, Inc NASDAQ: LMB is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company's service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.

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