Concrete Pumping (NASDAQ:BBCP) Issues Earnings Results

Concrete Pumping (NASDAQ:BBCP) posted its quarterly earnings data on Thursday. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01, Zacks reports. Concrete Pumping had a return on equity of 3.47% and a net margin of 2.23%.

Concrete Pumping Price Performance

Shares of BBCP traded up $0.17 during midday trading on Thursday, hitting $9.05. The company’s stock had a trading volume of 353,627 shares, compared to its average volume of 198,756. Concrete Pumping has a one year low of $5.55 and a one year high of $12.19. The company’s fifty day simple moving average is $10.17 and its two-hundred day simple moving average is $8.65. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $456.03 million, a price-to-earnings ratio of 64.64 and a beta of 0.86.

Insider Buying and Selling at Concrete Pumping

In related news, Director Brent M. Stevens sold 97,700 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $10.83, for a total value of $1,058,091.00. Following the completion of the transaction, the director owned 497,155 shares of the company’s stock, valued at $5,384,188.65. This represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $1,046,144.45. Following the completion of the sale, the chief financial officer owned 377,812 shares in the company, valued at $4,076,591.48. This represents a 20.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 346,955 shares of company stock valued at $3,726,529. 28.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBCP. BNP Paribas Financial Markets grew its position in Concrete Pumping by 97.5% during the 3rd 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 last quarter. Acadian Asset Management LLC bought a new position in Concrete Pumping in the first quarter valued at about $54,000. Mercer Global Advisors Inc. ADV bought a new position in Concrete Pumping in the third quarter valued at about $71,000. Verition Fund Management LLC acquired a new stake in shares of Concrete Pumping during the fourth quarter valued at about $69,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Concrete Pumping during the third quarter valued at about $74,000. 34.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BBCP has been the topic of several analyst reports. Wall Street Zen lowered Concrete Pumping from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Robert W. Baird upped their price objective on shares of Concrete Pumping from $8.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 9th. Zacks Research downgraded shares of Concrete Pumping from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Texas Capital raised shares of Concrete Pumping to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of Concrete Pumping from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Concrete Pumping has an average rating of “Moderate Buy” and an average target price of $10.25.

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.