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

Principal Financial Group Inc. decreased its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,616 shares of the construction company’s stock after selling 250 shares during the period. Principal Financial Group Inc. owned about 0.10% of Limbach worth $880,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LMB. American Capital Advisory LLC bought a new stake in Limbach during the third quarter valued at $25,000. nVerses Capital LLC acquired a new stake in Limbach during the third quarter worth about $53,000. Harbor Capital Advisors Inc. lifted its holdings in Limbach by 6.3% in the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company’s stock worth $207,000 after acquiring an additional 162 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Limbach in the second quarter valued at approximately $223,000. Finally, Brendel Financial Advisors LLC bought a new position in shares of Limbach during the second quarter valued at approximately $231,000. 55.85% of the stock is currently owned by institutional investors and hedge funds.

Limbach Stock Up 3.7 %

LMB opened at $102.64 on Friday. The stock’s 50 day moving average price is $82.35 and its 200 day moving average price is $66.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market cap of $1.16 billion, a P/E ratio of 46.65, a P/E/G ratio of 3.25 and a beta of 0.97. Limbach Holdings, Inc. has a 12 month low of $35.24 and a 12 month high of $103.20.

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

Analysts Set New Price Targets

LMB has been the subject of a number of analyst reports. Roth Mkm boosted their price objective on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus assumed coverage on shares of Limbach in a report on Friday, November 15th. They set a “buy” rating and a $108.00 price target for the company. Finally, StockNews.com cut shares of Limbach from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.

Insider Buying and Selling at Limbach

In other Limbach news, Director Joshua Horowitz sold 7,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $61.86, for a total value of $433,020.00. Following the completion of the sale, the director now directly owns 203,000 shares of the company’s stock, valued at approximately $12,557,580. This represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is currently owned by corporate insiders.

About Limbach

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.