Brent Stevens Sells 97,700 Shares of Concrete Pumping (NASDAQ:BBCP) Stock

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) Director Brent Stevens sold 97,700 shares of the company’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $10.83, for a total value of $1,058,091.00. Following the completion of the sale, the director directly owned 497,155 shares in the company, valued at approximately $5,384,188.65. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Concrete Pumping Stock Performance

Shares of Concrete Pumping stock opened at $10.43 on Wednesday. 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 firm has a market capitalization of $525.57 million, a P/E ratio of 74.50 and a beta of 0.84. The business has a fifty day simple moving average of $9.56 and a two-hundred day simple moving average of $7.83. Concrete Pumping Holdings, Inc. has a 12 month low of $5.55 and a 12 month high of $12.19.

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

Institutional Trading of Concrete Pumping

A number of institutional investors and hedge funds have recently bought and sold shares of BBCP. Dimensional Fund Advisors LP raised its holdings in Concrete Pumping by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,082,792 shares of the company’s stock worth $14,869,000 after buying an additional 81,318 shares during the last quarter. Royce & Associates LP raised its holdings in Concrete Pumping by 1.1% in the 4th quarter. Royce & Associates LP now owns 1,787,807 shares of the company’s stock worth $11,996,000 after acquiring an additional 20,166 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Concrete Pumping by 3.2% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 617,887 shares of the company’s stock worth $4,146,000 after acquiring an additional 19,171 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Concrete Pumping by 0.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 589,961 shares of the company’s stock valued at $3,628,000 after acquiring an additional 5,224 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Concrete Pumping by 11.3% in the 4th quarter. First Eagle Investment Management LLC now owns 539,689 shares of the company’s stock valued at $3,621,000 after acquiring an additional 54,784 shares in the last quarter. 34.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BBCP shares. Robert W. Baird raised their target price on shares of Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, June 9th. Weiss Ratings raised Concrete Pumping from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Wall Street Zen upgraded Concrete Pumping from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Zacks Research raised Concrete Pumping from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently 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.