Limbach Holdings, Inc. (NASDAQ:LMB) Stake Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 34.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,385 shares of the construction company's stock after buying an additional 21,346 shares during the period. Allspring Global Investments Holdings LLC owned 0.75% of Limbach worth $6,317,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new stake in Limbach in the third quarter worth $53,000. SG Americas Securities LLC acquired a new stake in Limbach in the third quarter worth $794,000. Truist Financial Corp increased its position in Limbach by 21.0% in the second quarter. Truist Financial Corp now owns 9,049 shares of the construction company's stock worth $515,000 after buying an additional 1,569 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Limbach during the second quarter valued at $223,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of Limbach during the second quarter valued at $2,653,000. 55.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Limbach

In related news, Director Joshua Horowitz sold 8,800 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $59.14, for a total transaction of $520,432.00. Following the completion of the transaction, the director now owns 223,272 shares of the company's stock, valued at $13,204,306.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 40,072 shares of company stock valued at $2,418,821 over the last 90 days. 10.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Limbach from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th.

Limbach Stock Performance

Shares of LMB traded up $0.16 during trading hours on Monday, reaching $77.31. 120,958 shares of the company's stock traded hands, compared to its average volume of 164,193. The firm has a market capitalization of $864.56 million, a price-to-earnings ratio of 35.96, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.63. Limbach Holdings, Inc. has a twelve month low of $28.21 and a twelve month high of $87.00. The business's fifty day simple moving average is $72.61 and its two-hundred day simple moving average is $60.61.

Limbach (NASDAQ:LMB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.13. The company had revenue of $122.24 million for the quarter, compared to analyst estimates of $123.50 million. Limbach had a return on equity of 21.06% and a net margin of 5.08%. During the same period last year, the company earned $0.46 earnings per share. Analysts predict that Limbach Holdings, Inc. will post 2.43 earnings per share for the current year.

About Limbach

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.