JB Capital Partners LP Purchases Shares of 341,400 Concrete Pumping Holdings, Inc. $BBCP

JB Capital Partners LP acquired a new position in shares of Concrete Pumping Holdings, Inc. (NASDAQ:BBCP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 341,400 shares of the company’s stock, valued at approximately $4,113,870,000. Concrete Pumping accounts for about 0.6% of JB Capital Partners LP’s holdings, making the stock its 22nd biggest position.

Several other large investors also recently made changes to their positions in BBCP. Vise Technologies Inc. acquired a new position in shares of Concrete Pumping during the 2nd quarter valued at $149,000. CM Wealth Advisors LLC acquired a new stake in Concrete Pumping in the 2nd quarter valued at $664,000. BlackRock Inc. acquired a new stake in Concrete Pumping in the 2nd quarter valued at $16,061,000. Deutsche Bank AG acquired a new stake in Concrete Pumping during the 2nd quarter valued at $246,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Concrete Pumping during the 2nd quarter worth $5,901,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Analysts Set New Price Targets

BBCP has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on shares of Concrete Pumping from $8.00 to $12.00 and gave the company a “neutral” rating in a research report 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. Texas Capital raised Concrete Pumping to a “strong-buy” rating in a report on Tuesday, July 21st. 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 downgraded Concrete Pumping from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. One research 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.25.

Concrete Pumping Price Performance

Shares of BBCP stock opened at $9.32 on Friday. The firm has a fifty day moving average of $10.45 and a two-hundred day moving average of $8.47. The firm has a market cap of $469.63 million, a P/E ratio of 66.57 and a beta of 0.86. Concrete Pumping Holdings, Inc. has a 1-year low of $5.55 and a 1-year high of $12.19. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.73 and a quick ratio of 1.61.

Concrete Pumping (NASDAQ:BBCP) last issued its 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 company had revenue of $106.80 million during the quarter, compared to analyst estimates of $96.71 million. As a group, research analysts anticipate that Concrete Pumping Holdings, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Brent M. Stevens sold 97,700 shares of Concrete Pumping stock in a transaction that occurred 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 transaction, the director owned 497,155 shares in the company, valued at approximately $5,384,188.65. This trade represents a 16.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Iain Humphries sold 96,955 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $10.79, for a total value of $1,046,144.45. Following the completion of the sale, the chief financial officer owned 377,812 shares of the company’s stock, valued at $4,076,591.48. This trade represents a 20.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 346,955 shares of company stock valued at $3,726,529. 28.20% of the stock is owned by corporate insiders.

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.