Truist Financial Corp Grows Stake in Limbach Holdings, Inc. (NASDAQ:LMB)

Truist Financial Corp lifted its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 21.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,049 shares of the construction company’s stock after purchasing an additional 1,569 shares during the period. Truist Financial Corp owned about 0.08% of Limbach worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LMB. The Manufacturers Life Insurance Company purchased a new stake in Limbach during the 2nd quarter valued at about $223,000. Brendel Financial Advisors LLC purchased a new stake in Limbach during the 2nd quarter valued at about $231,000. Meeder Asset Management Inc. grew its stake in Limbach by 7.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,072 shares of the construction company’s stock valued at $232,000 after acquiring an additional 292 shares in the last quarter. Virtu Financial LLC purchased a new stake in Limbach during the 4th quarter valued at about $235,000. Finally, PFG Advisors purchased a new stake in Limbach during the 1st quarter valued at about $253,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

Limbach Stock Performance

Limbach stock opened at $83.36 on Thursday. The firm has a 50 day simple moving average of $69.14 and a 200-day simple moving average of $58.36. Limbach Holdings, Inc. has a 1-year low of $26.76 and a 1-year high of $87.00. 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 stock has a market cap 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 (NASDAQ:LMB) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.13. Limbach had a net margin of 5.08% and a return on equity of 21.06%. The business had revenue of $122.24 million during the quarter, compared to analysts’ expectations of $123.50 million. During the same quarter in the prior year, the company posted $0.46 EPS. On average, analysts expect that Limbach Holdings, Inc. will post 2.43 EPS for the current year.

Insider Activity

In other news, Director Joshua Horowitz sold 8,800 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $59.14, for a total value of $520,432.00. Following the transaction, the director now directly owns 223,272 shares in the company, valued at approximately $13,204,306.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 40,072 shares of company stock valued at $2,418,821 in the last 90 days. Company insiders own 10.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Limbach from a “buy” rating to a “hold” rating in a research note 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.