JPMorgan Chase & Co. Purchases 699 Shares of Limbach Holdings, Inc. (NASDAQ:LMB)

JPMorgan Chase & Co. boosted its position in Limbach Holdings, Inc. (NASDAQ:LMB) by 15.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,194 shares of the construction company’s stock after buying an additional 699 shares during the quarter. JPMorgan Chase & Co.’s holdings in Limbach were worth $393,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new position in Limbach in the second quarter valued at approximately $223,000. Truist Financial Corp lifted its stake in Limbach by 21.0% in the second quarter. Truist Financial Corp now owns 9,049 shares of the construction company’s stock valued at $515,000 after acquiring an additional 1,569 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Limbach in the 3rd quarter valued at about $794,000. nVerses Capital LLC bought a new position in shares of Limbach in the 3rd quarter valued at about $53,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Limbach by 34.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 83,385 shares of the construction company’s stock valued at $6,317,000 after purchasing an additional 21,346 shares during the period. Institutional investors own 55.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LMB shares. Stifel Nicolaus upped their price target on shares of Limbach from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Roth Mkm boosted their price target on Limbach from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Limbach Trading Up 4.1 %

NASDAQ LMB opened at $95.91 on Thursday. Limbach Holdings, Inc. has a one year low of $38.03 and a one year high of $107.00. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 2.78 and a beta of 1.11. 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 company’s 50-day simple moving average is $95.06 and its two-hundred day simple moving average is $80.12.

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

Insiders Place Their Bets

In other news, Director David Richard Gaboury acquired 531 shares of Limbach stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average cost of $94.51 per share, with a total value of $50,184.81. Following the completion of the acquisition, the director now owns 2,071 shares in the company, valued at $195,730.21. This trade represents a 34.48 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.