Empowered Funds LLC Takes $3.74 Million Position in Concrete Pumping Holdings, Inc. $BBCP

Empowered Funds LLC acquired a new stake in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 310,242 shares of the company’s stock, valued at approximately $3,738,000.

Several other large investors also recently bought and sold shares of the business. Occudo Quantitative Strategies LP raised its position in Concrete Pumping by 17.4% in the 4th quarter. Occudo Quantitative Strategies LP now owns 12,314 shares of the company’s stock worth $83,000 after buying an additional 1,825 shares during the last quarter. Deutsche Bank AG lifted its stake in Concrete Pumping by 9.2% during the 4th quarter. Deutsche Bank AG now owns 24,345 shares of the company’s stock valued at $163,000 after acquiring an additional 2,049 shares during the period. Jane Street Group LLC boosted its holdings in shares of Concrete Pumping by 6.4% during the 2nd quarter. Jane Street Group LLC now owns 33,962 shares of the company’s stock valued at $209,000 after acquiring an additional 2,056 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Concrete Pumping during the 2nd quarter valued at about $26,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Concrete Pumping by 97.5% in the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company’s stock worth $31,000 after acquiring an additional 2,187 shares during the period. 34.20% of the stock is currently owned by institutional investors.

Concrete Pumping Stock Down 0.2%

BBCP stock opened at $9.01 on Wednesday. The company has a market cap of $454.01 million, a price-to-earnings ratio of 64.36 and a beta of 0.86. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.61 and a current ratio of 1.73. The business’s 50-day moving average is $10.21 and its two-hundred day moving average is $8.64. Concrete Pumping Holdings, Inc. has a fifty-two week low of $5.55 and a fifty-two week high of $12.19.

Concrete Pumping (NASDAQ:BBCP) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.04 earnings per share (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 firm had revenue of $106.80 million for the quarter, compared to the consensus estimate of $96.71 million. As a group, analysts forecast that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, June 9th. Weiss Ratings cut shares of Concrete Pumping from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Texas Capital raised shares of Concrete Pumping to a “strong-buy” rating in a research report on Tuesday, July 21st. Zacks Research downgraded shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Concrete Pumping from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.25.

Insider Buying and Selling

In related news, CFO Iain Humphries sold 96,955 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total value of $1,046,144.45. Following the transaction, the chief financial officer owned 377,812 shares of the company’s stock, valued at approximately $4,076,591.48. This trade represents a 20.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brent M. 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 sale, the director owned 597,155 shares of the company’s stock, valued at $6,359,700.75. This trade represents a 14.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 346,955 shares of company stock worth $3,726,529. 28.20% of the stock is currently owned by insiders.

About Concrete Pumping

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.