Concrete Pumping (NASDAQ:BBCP) Director Brent Stevens Sells 2,300 Shares

Key Points

• Director Brent Stevens sold 2,300 shares of Concrete Pumping Holdings (NASDAQ: BBCP) on July 9 at an average price of $10.78, totaling about $24,794. After the sale, he still held 594,855 shares.
• BBCP shares were slightly higher in Monday trading, up 0.3% to $10.90, with the stock sitting near its 52-week high of $12.19 and above both its 50-day and 200-day moving averages.
• Recent earnings beat revenue expectations but missed on profit: the company reported $0.04 EPS versus the $0.06 consensus, while revenue came in at $106.8 million, above estimates. Analysts currently have an average rating of Moderate Buy with a $10.25 price target.

Concrete Pumping Holdings, Inc. (NASDAQ:BBCP - Get Free Report) Director Brent Stevens sold 2,300 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $10.78, for a total value of $24,794.00. Following the completion of the sale, the director owned 594,855 shares of the company's stock, valued at $6,412,536.90. The trade was a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Concrete Pumping Trading Up 0.3%

BBCP traded up $0.03 during midday trading on Monday, hitting $10.90. 171,168 shares of the company were exchanged, compared to its average volume of 211,852. The firm has a market capitalization of $549.28 million, a P/E ratio of 77.86 and a beta of 0.84. Concrete Pumping Holdings, Inc. has a 1-year low of $5.55 and a 1-year high of $12.19. The firm's 50 day moving average price is $9.45 and its 200-day moving average price is $7.78. The company has a quick ratio of 1.61, a current ratio of 1.73 and a debt-to-equity ratio of 1.59.

Concrete Pumping (NASDAQ:BBCP - Get Free Report) last released its quarterly 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). The company had revenue of $106.80 million during the quarter, compared to the consensus estimate of $96.71 million. Concrete Pumping had a net margin of 2.23% and a return on equity of 3.47%. As a group, equities analysts forecast that Concrete Pumping Holdings, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on BBCP shares. Robert W. Baird upped their target price on Concrete Pumping from $8.00 to $12.00 and gave the company a "neutral" rating in a report on Tuesday, June 9th. Zacks Research upgraded shares of Concrete Pumping from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of Concrete Pumping from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Finally, Weiss Ratings raised shares of Concrete Pumping from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Occudo Quantitative Strategies LP boosted its position in shares of Concrete Pumping by 17.4% during the 4th quarter. Occudo Quantitative Strategies LP now owns 12,314 shares of the company's stock valued at $83,000 after purchasing an additional 1,825 shares in the last quarter. Deutsche Bank AG increased its holdings in Concrete Pumping by 9.2% in the fourth quarter. Deutsche Bank AG now owns 24,345 shares of the company's stock worth $163,000 after purchasing an additional 2,049 shares in the last quarter. Jane Street Group LLC increased its holdings in Concrete Pumping by 6.4% in the second quarter. Jane Street Group LLC now owns 33,962 shares of the company's stock worth $209,000 after purchasing an additional 2,056 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Concrete Pumping by 97.5% in the third quarter. BNP Paribas Financial Markets now owns 4,429 shares of the company's stock valued at $31,000 after buying an additional 2,187 shares during the period. Finally, First Trust Advisors LP lifted its stake in Concrete Pumping by 4.2% in the second quarter. First Trust Advisors LP now owns 77,067 shares of the company's stock valued at $474,000 after buying an additional 3,076 shares during the period. 34.20% of the stock is owned by institutional investors and hedge funds.

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.

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