Thrivent Financial for Lutherans Has $61.55 Million Stake in Limbach Holdings, Inc. $LMB

Thrivent Financial for Lutherans grew its holdings in shares of Limbach Holdings, Inc. (NASDAQ:LMB) by 7.6% in the 4th quarter, Holdings Channel reports. The fund owned 790,632 shares of the construction company’s stock after buying an additional 55,511 shares during the period. Thrivent Financial for Lutherans owned 0.07% of Limbach worth $61,550,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of LMB. Caitong International Asset Management Co. Ltd acquired a new position in Limbach during the third quarter worth about $54,000. Comerica Bank raised its stake in Limbach by 24.0% during the first quarter. Comerica Bank now owns 862 shares of the construction company’s stock worth $64,000 after acquiring an additional 167 shares in the last quarter. SG Americas Securities LLC raised its stake in Limbach by 85.0% during the third quarter. SG Americas Securities LLC now owns 1,630 shares of the construction company’s stock worth $158,000 after acquiring an additional 749 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Limbach by 59.7% during the second quarter. BNP Paribas Financial Markets now owns 1,131 shares of the construction company’s stock worth $158,000 after acquiring an additional 423 shares in the last quarter. Finally, Man Group plc grew its holdings in shares of Limbach by 49.7% during the third quarter. Man Group plc now owns 2,511 shares of the construction company’s stock worth $244,000 after purchasing an additional 834 shares during the last quarter. Institutional investors and hedge funds own 55.85% of the company’s stock.

Wall Street Analysts Forecast Growth

LMB has been the topic of several research reports. Stifel Nicolaus reduced their price target on Limbach from $111.00 to $104.00 and set a “buy” rating on the stock in a report on Monday, January 26th. JPMorgan Chase & Co. reduced their price target on Limbach from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Weiss Ratings cut Limbach from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Finally, Wall Street Zen cut Limbach from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.67.

Insider Buying and Selling

In other Limbach news, EVP Jay Sharp sold 2,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $79.99, for a total transaction of $159,980.00. Following the transaction, the executive vice president directly owned 79,027 shares in the company, valued at approximately $6,321,369.73. This represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jayme L. Brooks sold 9,910 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $78.56, for a total value of $778,529.60. Following the transaction, the chief financial officer owned 140,750 shares in the company, valued at $11,057,320. The trade was a 6.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,433 shares of company stock worth $2,345,453 over the last 90 days. Company insiders own 9.70% of the company’s stock.

Limbach Price Performance

Limbach stock opened at $72.59 on Friday. The stock has a market capitalization of $865.27 million, a price-to-earnings ratio of 26.40 and a beta of 1.54. Limbach Holdings, Inc. has a 52-week low of $65.08 and a 52-week high of $154.05. The stock’s 50 day moving average price is $83.27 and its two-hundred day moving average price is $82.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 1.71.

Limbach (NASDAQ:LMB) last posted its quarterly earnings results on Tuesday, May 5th. The construction company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.43. The firm had revenue of $138.86 million for the quarter, compared to analysts’ expectations of $134.23 million. Limbach had a return on equity of 26.17% and a net margin of 5.09%.The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS. On average, equities analysts predict that Limbach Holdings, Inc. will post 4.98 earnings per share for the current year.

About Limbach

Limbach Holdings, Inc (NASDAQ: LMB) is a U.S.-based mechanical construction firm specializing in the design, installation and maintenance of heating, ventilation and air conditioning (HVAC) systems, piping, plumbing and sheet metal fabrication. The company delivers comprehensive mechanical solutions to commercial, institutional, health care, education, government and industrial clients, drawing on its in-house engineering, prefabrication and construction management capabilities.

The company’s service offerings encompass full-scope mechanical construction, including energy system design, direct digital controls and building automation, retrofits, testing and balancing, preventive maintenance programs and emergency response services.