Franklin Resources Inc. Cuts Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Franklin Resources Inc. lowered its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 24.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,239 shares of the construction company’s stock after selling 5,297 shares during the period. Franklin Resources Inc.’s holdings in Limbach were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LMB. FMR LLC lifted its position in shares of Limbach by 21.7% during the 3rd quarter. FMR LLC now owns 40,543 shares of the construction company’s stock valued at $3,072,000 after acquiring an additional 7,239 shares during the period. Virtu Financial LLC purchased a new position in Limbach in the 3rd quarter valued at approximately $487,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Limbach during the third quarter worth $643,000. American Century Companies Inc. boosted its position in Limbach by 6.0% during the second quarter. American Century Companies Inc. now owns 208,223 shares of the construction company’s stock worth $11,854,000 after purchasing an additional 11,782 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Limbach during the third quarter worth $568,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Limbach

In related news, Director David Richard Gaboury acquired 531 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of $94.51 per share, with a total value of $50,184.81. Following the purchase, the director now directly owns 2,071 shares in the company, valued at $195,730.21. The trade was a 34.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com cut Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Roth Mkm raised their target price on shares of Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus upped their price target on shares of Limbach from $108.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 11th.

Limbach Stock Performance

NASDAQ LMB opened at $85.90 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.14. The stock has a market cap of $968.35 million, a price-to-earnings ratio of 39.05, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. Limbach Holdings, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $107.00. The business has a fifty day moving average of $90.78 and a 200-day moving average of $73.71.

Limbach (NASDAQ:LMB) last released its quarterly earnings results on Tuesday, November 5th. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $133.90 million for the quarter, compared to analysts’ expectations of $129.50 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. As a group, analysts predict that Limbach Holdings, Inc. will post 2.54 earnings per share for the current fiscal year.

Limbach Company 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.