Principal Financial Group Inc. Lowers Holdings in Limbach Holdings, Inc. (NASDAQ:LMB)

Principal Financial Group Inc. reduced its stake in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,616 shares of the construction company’s stock after selling 250 shares during the quarter. Principal Financial Group Inc. owned 0.10% of Limbach worth $880,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LMB. Tidal Investments LLC acquired a new position in shares of Limbach in the third quarter worth about $741,000. Sanctuary Advisors LLC acquired a new position in Limbach in the 3rd quarter worth about $262,000. Virtu Financial LLC purchased a new position in Limbach during the third quarter worth approximately $487,000. Barclays PLC grew its holdings in Limbach by 385.4% in the third quarter. Barclays PLC now owns 16,879 shares of the construction company’s stock valued at $1,278,000 after purchasing an additional 13,402 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Limbach by 2.2% in the third quarter. Geode Capital Management LLC now owns 238,445 shares of the construction company’s stock valued at $18,068,000 after buying an additional 5,093 shares in the last quarter. 55.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David Richard Gaboury bought 531 shares of Limbach stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of $94.51 per share, with a total value of $50,184.81. Following the completion of the purchase, the director now directly owns 2,071 shares of the company’s stock, valued at approximately $195,730.21. This trade represents a 34.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.20% of the company’s stock.

Analysts Set New Price Targets

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

Limbach Stock Up 6.1 %

NASDAQ LMB opened at $94.12 on Friday. Limbach Holdings, Inc. has a one year low of $35.24 and a one year 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. The business has a fifty day moving average price of $91.62 and a 200 day moving average price of $74.98. The company has a market cap of $1.06 billion, a P/E ratio of 42.78, a P/E/G ratio of 3.10 and a beta of 1.11.

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

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.