Brent Stevens Sells 100,000 Shares of Concrete Pumping (NASDAQ:BBCP) Stock

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Director Brent Stevens sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.65, for a total transaction of $1,065,000.00. Following the transaction, the director directly owned 597,155 shares of the company’s stock, valued at $6,359,700.75. The trade was a 14.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Concrete Pumping Stock Down 0.2%

Shares of BBCP stock opened at $11.12 on Friday. Concrete Pumping Holdings, Inc. has a 12 month low of $5.55 and a 12 month high of $11.98. The stock has a market cap of $560.34 million, a P/E ratio of 79.43 and a beta of 0.94. The company has a current ratio of 1.73, a quick ratio of 1.61 and a debt-to-equity ratio of 1.59. The company has a 50 day simple moving average of $7.99 and a two-hundred day simple moving average of $7.13.

Concrete Pumping (NASDAQ:BBCP) last announced its earnings results on Thursday, June 4th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. The business had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $96.71 million. On average, research analysts expect that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current year.

Analyst Ratings Changes

BBCP has been the subject of a number of research reports. Weiss Ratings raised shares of Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, June 5th. Robert W. Baird upped their target price on shares of Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Wall Street Zen raised shares of Concrete Pumping from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.25.

Institutional Trading of Concrete Pumping

A number of hedge funds and other institutional investors have recently modified their holdings of BBCP. Royal Bank of Canada increased its stake in shares of Concrete Pumping by 5.7% in the first quarter. Royal Bank of Canada now owns 161,031 shares of the company’s stock worth $878,000 after purchasing an additional 8,620 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Concrete Pumping in the first quarter worth $78,000. Empowered Funds LLC increased its stake in shares of Concrete Pumping by 3.7% in the first quarter. Empowered Funds LLC now owns 321,737 shares of the company’s stock worth $1,757,000 after purchasing an additional 11,605 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Concrete Pumping by 166.4% in the first quarter. Jane Street Group LLC now owns 31,906 shares of the company’s stock worth $174,000 after purchasing an additional 19,929 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Concrete Pumping in the first quarter worth $54,000. 34.20% of the stock is owned by hedge funds and other institutional investors.

Concrete Pumping Company Profile

Concrete Pumping Holdings, Inc (NASDAQ: BBCP) is a specialized provider of concrete placing and pumping solutions for commercial, residential and infrastructure construction projects. Through its network of regional operating subsidiaries, the company offers boom pumps, line pumps and volumetric concrete mixers, enabling contractors to efficiently deliver and place concrete on jobsites of varying scale and complexity. Concrete Pumping’s services are designed to streamline the concrete placement process, reduce project timelines and improve overall jobsite safety.

Since its formation through a series of strategic acquisitions beginning in 2020, Concrete Pumping Holdings has focused on consolidating regional operators under a unified platform.