Principal Financial Group Inc. Has $676,000 Stake in Limbach Holdings, Inc. (NASDAQ:LMB)

Principal Financial Group Inc. grew its position in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 15.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,866 shares of the construction company’s stock after purchasing an additional 1,626 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Limbach worth $676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Limbach by 6.0% during the first quarter. Vanguard Group Inc. now owns 566,501 shares of the construction company’s stock worth $23,464,000 after purchasing an additional 32,030 shares during the period. Dimensional Fund Advisors LP lifted its stake in Limbach by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 559,175 shares of the construction company’s stock valued at $25,426,000 after purchasing an additional 2,769 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Limbach by 368.5% during the 1st quarter. Russell Investments Group Ltd. now owns 71,878 shares of the construction company’s stock worth $2,977,000 after acquiring an additional 56,535 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Limbach during the second quarter worth about $3,532,000. Finally, Los Angeles Capital Management LLC boosted its holdings in Limbach by 43.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 36,961 shares of the construction company’s stock worth $1,531,000 after buying an additional 11,179 shares during the period. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Stock Performance

NASDAQ LMB opened at $71.99 on Friday. The company has a fifty day moving average of $61.35 and a 200-day moving average of $53.28. Limbach Holdings, Inc. has a 52-week low of $26.76 and a 52-week high of $73.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $811.33 million, a P/E ratio of 33.48, a P/E/G ratio of 2.35 and a beta of 0.95.

Limbach (NASDAQ:LMB) last released its earnings results on Tuesday, August 6th. The construction company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.13. Limbach had a return on equity of 21.06% and a net margin of 5.08%. The company had revenue of $122.24 million during the quarter, compared to analyst estimates of $123.50 million. During the same quarter in the previous year, the company posted $0.46 EPS. As a group, equities research analysts predict that Limbach Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joshua Horowitz sold 8,800 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $59.14, for a total value of $520,432.00. Following the completion of the sale, the director now owns 223,272 shares of the company’s stock, valued at $13,204,306.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 40,072 shares of company stock valued at $2,418,821 in the last quarter. Insiders own 10.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Limbach from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th.

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.