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

Principal Financial Group Inc. lifted its stake in Limbach Holdings, Inc. (NASDAQ:LMB) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,910 shares of the construction company’s stock after buying an additional 1,294 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Limbach worth $1,104,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LMB. Rockefeller Capital Management L.P. acquired a new stake in Limbach during the 3rd quarter valued at $11,635,000. Royce & Associates LP increased its holdings in Limbach by 35.3% during the 3rd quarter. Royce & Associates LP now owns 249,578 shares of the construction company’s stock worth $18,908,000 after purchasing an additional 65,082 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Limbach by 186.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 83,945 shares of the construction company’s stock valued at $6,360,000 after purchasing an additional 54,599 shares in the last quarter. Moody Aldrich Partners LLC purchased a new position in shares of Limbach during the 4th quarter valued at approximately $4,430,000. Finally, Portolan Capital Management LLC increased its stake in shares of Limbach by 70.5% in the third quarter. Portolan Capital Management LLC now owns 123,354 shares of the construction company’s stock worth $9,345,000 after buying an additional 51,002 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Limbach Stock Up 4.3 %

Shares of NASDAQ:LMB opened at $77.43 on Thursday. The company’s fifty day moving average is $91.50 and its two-hundred day moving average is $85.10. 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 1-year low of $38.03 and a 1-year high of $107.00. The stock has a market capitalization of $872.87 million, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11.

Insider Activity at Limbach

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LMB. StockNews.com downgraded shares of Limbach from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Lake Street Capital boosted their price objective on Limbach from $100.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Stifel Nicolaus upped their price objective on Limbach from $110.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, January 24th.

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.