Limbach Holdings, Inc. $LMB Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in Limbach Holdings, Inc. (NASDAQ:LMB) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 161,985 shares of the construction company’s stock after selling 6,982 shares during the period. Thrivent Financial for Lutherans owned about 1.39% of Limbach worth $22,694,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LMB. Opal Wealth Advisors LLC purchased a new position in shares of Limbach in the second quarter valued at approximately $32,000. AlphaQuest LLC purchased a new position in Limbach in the 1st quarter valued at $53,000. Comerica Bank boosted its stake in Limbach by 24.0% during the 1st quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after purchasing an additional 167 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in Limbach during the 2nd quarter worth $114,000. Finally, Harbour Investments Inc. purchased a new stake in shares of Limbach during the second quarter worth $115,000. Institutional investors and hedge funds own 55.85% of the company’s stock.

Insider Buying and Selling

In other Limbach news, insider Jay Sharp sold 2,000 shares of Limbach stock in a transaction on Monday, December 15th. The stock was sold at an average price of $77.98, for a total value of $155,960.00. Following the sale, the insider owned 64,979 shares in the company, valued at $5,067,062.42. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.20% of the stock is owned by corporate insiders.

Limbach Stock Performance

NASDAQ:LMB opened at $81.33 on Wednesday. The company’s 50-day moving average is $81.93 and its two-hundred day moving average is $108.52. Limbach Holdings, Inc. has a 1-year low of $63.02 and a 1-year high of $154.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $945.87 million, a price-to-earnings ratio of 26.75 and a beta of 1.26.

Limbach (NASDAQ:LMB) last announced its quarterly earnings results on Tuesday, November 4th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.04). The firm had revenue of $184.58 million for the quarter, compared to analyst estimates of $184.48 million. Limbach had a return on equity of 30.80% and a net margin of 6.06%.The firm’s quarterly revenue was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 EPS. Analysts forecast that Limbach Holdings, Inc. will post 2.54 EPS for the current year.

Limbach announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 15th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LMB shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Limbach in a research note on Wednesday, December 10th. Stifel Nicolaus decreased their target price on shares of Limbach from $119.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday. Zacks Research lowered Limbach from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Finally, Wall Street Zen cut Limbach from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Limbach has a consensus rating of “Hold” and an average price target of $133.50.

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.