Limbach Holdings, Inc. (NASDAQ:LMB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Limbach Holdings, Inc. (NASDAQ:LMB) by 2.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 11,616 shares of the construction company’s stock after selling 250 shares during the quarter. Principal Financial Group Inc.’s holdings in Limbach were worth $880,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. American Capital Advisory LLC acquired a new position in shares of Limbach in the 3rd quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in Limbach during the third quarter worth $53,000. Harbor Capital Advisors Inc. boosted its position in shares of Limbach by 6.3% during the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after buying an additional 162 shares during the period. Quest Partners LLC acquired a new stake in shares of Limbach in the third quarter valued at $207,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Limbach in the 2nd quarter valued at $223,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Up 6.1 %

LMB stock opened at $94.12 on Friday. The company’s 50 day moving average price is $91.62 and its 200 day moving average price is $74.98. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 42.78, a PEG ratio of 3.10 and a beta of 1.11. Limbach Holdings, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $107.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57.

Limbach (NASDAQ:LMB) last announced its quarterly earnings data on Tuesday, November 5th. The construction company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The business had revenue of $133.90 million for the quarter, compared to analyst estimates of $129.50 million. Limbach had a net margin of 5.08% and a return on equity of 20.16%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. On average, equities research analysts anticipate that Limbach Holdings, Inc. will post 2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Richard Gaboury bought 531 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average cost of $94.51 per share, with a total value of $50,184.81. Following the transaction, the director now directly owns 2,071 shares of the company’s stock, valued at approximately $195,730.21. This represents a 34.48 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LMB has been the topic of a number of recent research reports. StockNews.com lowered shares of Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Stifel Nicolaus upped their target price on shares of Limbach from $108.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Roth Mkm boosted their price target on shares of Limbach from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th.

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.