Allspring Global Investments Holdings LLC cut its stake in Limbach Holdings, Inc. (NASDAQ:LMB - Free Report) by 64.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,975 shares of the construction company's stock after selling 53,410 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.27% of Limbach worth $2,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its position in shares of Limbach by 6.3% in the third quarter. Harbor Capital Advisors Inc. now owns 2,736 shares of the construction company's stock valued at $207,000 after purchasing an additional 162 shares in the last quarter. American Capital Advisory LLC purchased a new position in Limbach in the third quarter worth approximately $25,000. Thrivent Financial for Lutherans grew its position in Limbach by 0.8% in the third quarter. Thrivent Financial for Lutherans now owns 46,987 shares of the construction company's stock worth $3,560,000 after acquiring an additional 382 shares during the period. Empowered Funds LLC grew its position in Limbach by 4.9% in the third quarter. Empowered Funds LLC now owns 8,618 shares of the construction company's stock worth $653,000 after acquiring an additional 402 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Limbach by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 5,194 shares of the construction company's stock worth $393,000 after acquiring an additional 699 shares during the period. 55.85% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:LMB traded down $3.22 during trading hours on Friday, hitting $80.13. The company's stock had a trading volume of 182,651 shares, compared to its average volume of 151,313. The stock has a market capitalization of $903.07 million, a P/E ratio of 36.42, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11. The stock has a fifty day moving average of $92.84 and a 200-day moving average of $83.94. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.14. Limbach Holdings, Inc. has a 52-week low of $38.03 and a 52-week high of $107.00.
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. Corporate insiders own 10.20% of the company's stock.
Several brokerages recently weighed in on LMB. Lake Street Capital increased their price objective on Limbach from $100.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Roth Mkm increased their price objective on Limbach from $67.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. StockNews.com lowered Limbach from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus increased their price objective on Limbach from $110.00 to $117.00 and gave the stock a "buy" rating in a research report on Friday, January 24th.
Check Out Our Latest Analysis on 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.
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