The Manufacturers Life Insurance Company Takes $223,000 Position in Limbach Holdings, Inc. (NASDAQ:LMB)

The Manufacturers Life Insurance Company purchased a new position in Limbach Holdings, Inc. (NASDAQ:LMB) in the 2nd quarter, HoldingsChannel reports. The firm purchased 3,914 shares of the construction company’s stock, valued at approximately $223,000.

Several other large investors also recently added to or reduced their stakes in LMB. Brendel Financial Advisors LLC purchased a new stake in shares of Limbach in the second quarter valued at $231,000. Meeder Asset Management Inc. boosted its position in shares of Limbach by 7.7% during the second quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock valued at $232,000 after buying an additional 292 shares during the period. Virtu Financial LLC bought a new position in shares of Limbach during the fourth quarter valued at approximately $235,000. PFG Advisors bought a new position in shares of Limbach during the first quarter valued at approximately $253,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Limbach by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,199 shares of the construction company’s stock worth $257,000 after buying an additional 483 shares during the period. 55.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Limbach Stock Up 0.3 %

Shares of LMB opened at $81.71 on Friday. The firm has a market capitalization of $913.76 million, a P/E ratio of 38.00, a P/E/G 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. The firm has a fifty day moving average price of $70.46 and a 200-day moving average price of $58.97. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.15.

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

Insiders Place Their Bets

In related news, Director Joshua Horowitz sold 8,800 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 directly owns 223,272 shares of the company’s stock, valued at $13,204,306.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 40,072 shares of company stock worth $2,418,821 in the last ninety days. 10.20% of the stock is owned by company insiders.

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.