Limbach Holdings, Inc. (NASDAQ:LMB) Shares Bought by Truist Financial Corp

Truist Financial Corp boosted its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 21.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,049 shares of the construction company’s stock after buying an additional 1,569 shares during the period. Truist Financial Corp’s holdings in Limbach were worth $515,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Limbach in the 2nd quarter valued at $223,000. Brendel Financial Advisors LLC acquired a new stake in shares of Limbach in the 2nd quarter valued at $231,000. Meeder Asset Management Inc. raised its holdings in shares of Limbach by 7.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock valued at $232,000 after purchasing an additional 292 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Limbach in the 4th quarter valued at $235,000. Finally, PFG Advisors acquired a new stake in shares of Limbach in the 1st quarter valued at $253,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Limbach

In other Limbach news, Director Joshua Horowitz sold 5,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $64.02, for a total transaction of $320,100.00. Following the transaction, the director now directly owns 190,000 shares of the company’s stock, valued at approximately $12,163,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 40,072 shares of company stock valued at $2,418,821 in the last ninety days. Insiders own 10.20% of the company’s stock.

Limbach Trading Up 2.0 %

NASDAQ LMB opened at $83.36 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.63. The firm’s fifty day moving average price is $69.14 and its 200 day moving average price is $58.36. The company has a market capitalization of $932.21 million, a price-to-earnings ratio of 38.77, a price-to-earnings-growth ratio of 2.68 and a beta of 0.96. Limbach Holdings, Inc. has a 12 month low of $26.76 and a 12 month high of $87.00.

Limbach (NASDAQ:LMB) last posted its 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 firm had revenue of $122.24 million for the quarter, compared to the consensus estimate of $123.50 million. Limbach had a net margin of 5.08% and a return on equity of 21.06%. During the same period last year, the firm posted $0.46 EPS. On average, sell-side analysts expect that Limbach Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.