Allspring Global Investments Holdings LLC Decreases Stock Position in Limbach Holdings, Inc. (NASDAQ:LMB)

Allspring Global Investments Holdings LLC cut its stake in Limbach Holdings, Inc. (NASDAQ:LMB) by 64.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,975 shares of the construction company’s stock after selling 53,410 shares during the period. Allspring Global Investments Holdings LLC owned about 0.27% of Limbach worth $2,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kestra Private Wealth Services LLC boosted its holdings in Limbach by 36.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,563 shares of the construction company’s stock valued at $989,000 after purchasing an additional 3,075 shares during the period. Moody Aldrich Partners LLC purchased a new position in Limbach in the fourth quarter valued at $4,430,000. RoundAngle Advisors LLC acquired a new stake in Limbach in the fourth quarter valued at $474,000. JPMorgan Chase & Co. raised its stake in Limbach by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 5,194 shares of the construction company’s stock valued at $393,000 after buying an additional 699 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Limbach in the third quarter valued at $741,000. 55.85% of the stock is currently owned by hedge funds and other institutional investors.

Limbach Stock Down 3.9 %

LMB opened at $80.13 on Friday. The business’s 50-day simple moving average is $92.84 and its 200-day simple moving average is $83.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.57 and a current ratio of 1.57. Limbach Holdings, Inc. has a one year low of $38.03 and a one year high of $107.00. The stock has a market capitalization of $903.07 million, a P/E ratio of 36.42, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Insider Transactions at Limbach

In related news, Director David Richard Gaboury purchased 531 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were purchased at an average price of $94.51 per share, with a total value of $50,184.81. Following the completion of the acquisition, the director now directly owns 2,071 shares in the company, valued at $195,730.21. This represents a 34.48 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 10.20% of the company’s stock.

Wall Street Analyst Weigh In

LMB has been the topic of a number of analyst reports. Stifel Nicolaus raised their price target on Limbach from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, January 24th. StockNews.com cut Limbach from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Lake Street Capital raised their price target on Limbach from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, Roth Mkm raised 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.

Limbach Company 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.